MMTC to partner with SBI to sell Indian Gold Coin
The Dollar Business Bureau Metals and Minerals Trading Corporation of India (MMTC) will partner with the State Bank of India (SBI) to sell government-minted Indian Gold Coin. MMTC has already collaborated with more than half a dozen banks, including Andhra Bank, Federal Bank, HDFC Bank, ICICI Bank, Indian Overseas Bank, Vijaya Bank, Yes Bank, and has sold over one lakh pieces of Indian gold coin. The company has set a new target of selling 5 lakh pieces, in 5gm, 10gm and 20 gm denominations over the next few years. "Ever since Prime Minister Narendra Modi launched the coin on November 5, 2015, we have tied up with seven banks to sell it," MMTC Chairman and Managing Director Ved Prakash told PTI. Prakash said the gold coin is ...
MMTC along with World Gold Council launch Indian Gold Coin
The Dollar Business Bureau With an aim to drive awareness around Diwali on the availability of Indian Gold Coin, MMTC along with World Gold Council has launched a multimedia advertising campaign starting this week that includes newspapers, radio, digital and select cinema halls. More information on Indian Gold Coin can be accessed on www.indiangoldcoin.com or toll free number 1800 1800 000. The Indian Gold Coin is available in denominations of 5 gm and 10 gm coin and 20 gm bar. The coins are currently available at all MMTC outlets across India, along with select branches of seven Banks - Indian Overseas Bank, Vijaya Bank, Federal Bank, Yes Bank, Andhra Bank, ICICI Bank and HDFC Bank. Indian Gold Coin is available at about ...
'Gold schemes to cut down imports, bridge trade deficit'
Gold coins with the national emblem of Ashok Chakra carved on one side and Mahatma Gandhi on the other will also be sold through MMTC outlets Deepak Kumar | The Dollar Business Welcoming the launch of the three gold schemes, industry leaders on Friday said the move will help extract India's unutilised gold reserves, thus reducing the import bill and bringing down the current account deficit. Imports will come down significantly with these schemes. Reduction of imports will advantage treasury and the RBI as they will have less burden of US dollars. At least those investing in gold ETF (exchange traded fund) will try to switch over to investing in bonds because they are paying a nominal charge in the ETF. Here they ...
