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Friday, 22nd July 2005 (4957 views)

India's Corporation Bank has announced that it has entered the gold trading market.<br/><br/>The nationalised commercial bank will offer gold trading in its branches and the company's main branch at the Super Market started its gold trading business this week.<br/><br/>Bank manager U A Halemani told the New Ind Press that it was the first time that gold trading activity had been introduced by a commercial bank in India.<br/><br/>Mr Halemani urged jewellers and bullion traders to take advantage of the facility and announced that gold biscuits weighing 100 gm of 0.999 purity and gold bars weighing one kilo gram of 0.995 purity are being imported with a guarantee card for quality and quantity.<br/><br/>The manager said that the gold would be sold at the prevailing price in the bullion market of Mumbai and the bank has organised an interaction meeting with jewellers and traders to explain the new facility.<br/><br/>The Corporation Bank was granted a licence by the RBI to import and trade gold from Switzerland and Paris.<img alt="track" src="http://feeds.directnews.org.uk/feedtrack/dn.gif?feedid=196&itemid=14013288"/>

 

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