Get Gold Coins at In­dia Post Soon

Coins of 5 gm & 10 gm op­tions, along with 20-gm bars, may soon be avail­able

The Economic Times - - Commodities Plus - Su­tanuka.Ghosal @times­group.com

Kolkata: The In­dian Gold Coins may soon be avail­able across the coun­try. MMTC, the gov­ern­ment agency han­dling mar­ket­ing of the first such na­tional coins, is likely to en­ter into an agree­ment with In­dia Post shortly for the pur­pose, of­fi­cials said. While In­dian Overseas Bank has started dis­tribut­ing these coins through lim­ited branches, talks are on with the State Bank of In­dia, UCO bank and ICICI Bank to sell these coins that carry Ashoka Chakra on one side and Gand­hiji’s logo on the other side. MMTC’s ini­tiati- ve comes at a time when gold prices in­creased 16.2% in the first three months of the year, the big­gest quar­terly rise since 1986. “The coins were be­ing ini­tially minted at the gov­ern­ment mint in Mum­bai. Now the Kolkata mint has also started pro­duc­ing these coins,” an of­fi­cial said. The coins are avail­able in 5 gm and 10 gm op­tions, along with a 20 gm bar. The 24-carat coins and bar come with 999 pu­rity. The gov­ern­ment has also al­lowed MMTC to use the gold that is be­ing de­posited un­der the Gold Mon­eti­sa­tion Scheme, mostly from tem­ples, for mint­ing the In­dian Gold Coins. Prime Min­is­ter Naren­dra Modi had an­nounced the launch of the In­dia Gold Coin on Novem­ber 5 last year.

ANIMISHA

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