News and Trends
Indian Gold Coin now available through seven banks for Dhanteras along with MMTC’s transparent buy back option through its showrooms
- HDFC bank, ICICI bank and Andhra Bank partners with MMTC to retail the Indian Gold Coin
- Existing bank partners include Indian Overseas Bank, Yes Bank, Vijaya Bank and Federal Bank
- Around 300 retail outlets will sell the Indian Gold Coin during Diwali
In the run-up to Diwali, HDFC Bank, ICICI Bank and Andhra Bank has partnered with MMTC and joined the existing league of banks retailing the Indian Gold Coin across the country. The Indian Gold Coin is available in denominations of 5 and 10 gm coin and 20 gm bar. The coins are currently available at MMTC outlets across India, along with select branches of seven Indian Banks - Indian Overseas Bank, Vijaya Bank, Federal Bank, Yes Bank, ICICI Bank, HDFC Bank and Andhra Bank. With the new partnerships, the network selling the sovereign gold coin is now around 300 outlets for the auspicious gold buying occasion - Dhanteras that falls on Friday, 28 October this year.
Ved Prakash, Chairman and Managing Director, MMTC said, “This Diwali, banks have become the lead distribution channel for Indian Gold Coin. Within one year of launch seven leading banks in India are retailing the national gold coin. We will continue to partner with more banks to widen the distribution. Despite being a gold loving nation, India previously did not have a sovereign gold offering. We are expecting Indians to celebrate the festival by buying the Indian Gold Coin – India’s first sovereign gold coin. The purchaser of an Indian Gold Coin directly contributes towards the economic growth of the nation and it will also aid in recycling of gold through transparent buy-back option available at MMTC showrooms.”
MMTC also announces the transparent ‘buy back’ option for Indian Gold Coin through its own showrooms across India. MMTC will repurchase the Indian Gold Coin, in intact tamperproof packaging and with original invoice, at the prevailing gold base rate. The customers shall be at the clear profitable position while buying Indian Gold Coin which has easy liquidity. Launched by the Honorable Prime Minister Narendra Modi, in 2015, the Indian Gold Coin has the national emblem Ashoka Chakra engraved on one side and Mahatma Gandhi on the other side. The coins are priced in a transparent and competitive manner. Hallmarked by Bureau of Indian Standards (BIS) for purity, the security of the Indian Gold Coin is guaranteed through tamper-proof packaging and advanced anti-counterfeit features making it very safe. The coins boast of 24 karat purity and 999 fineness assuring consumers of absolute purity. Indian Gold Coin is currently one of the purest forms of gold available in the country and is ‘Minted in India’ by India Government Mint in Mumbai and Kolkata. Indian Gold coin is unique and offers positive tolerance for both weight and guaranteed purity. MMTC also offers transparent buy-back option through their outlets.
The purchase of an Indian Gold Coin directly contributes towards the economic growth of the nation. With more Indians opting for the Indian Gold Coin this festive season, each of them is directly contributing to the progress and growth of the nation. 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 that includes newspapers, radio, digital and at select cinema halls.
For more information on Indian Gold Coin, visit www.indiangoldcoin.com or call on the toll-free number 1800 1800 000.
For further information please contact:
World Gold Council
T 022 6157 9107
M +91 9987 045 485
T 022 6151 3375
M + 91 9820 780 054
Note to editors:
MMTC is one of the largest importer of gold and silver in the Indian sub-continent and supplies gold on loan and outright basis to the exporters, bullion dealers and jewellery manufacturers on all India basis. MMTC retails gold and silver medallions & its own branded Sterling Silverware (Sanchi) with showrooms in all the major metro cities of India. MMTC also markets branded hallmarked gold and studded jewellery duly accredited with Bureau of Indian Standards. MMTC was the pioneer in setting up assay and hallmarking units for testing purity of gold and silver. Besides organizing major jewellery exhibitions in India & abroad, MMTC also has a medallion manufacturing unit for minting of Gold/Silver medallions.
World Gold Council
The World Gold Council is the market development organisation for the gold industry. Our purpose is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market. We develop gold-backed solutions, services and products, based on authoritative market insight and we work with a range of partners to put our ideas into action. As a result, we create structural shifts in demand for gold across key market sectors. We provide insights into the international gold markets, helping people to understand the wealth preservation qualities of gold and its role in meeting the social and environmental needs of society. The membership of the World Gold Council includes the world’s leading and most forward thinking gold mining companies.