Financial Daily from THE HINDU group of publications
Tuesday, Dec 10, 2002
Financial Daily from THE HINDU group of publications Tuesday, Dec 10, 2002 |
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Money & Banking
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Private Banks Agri-Biz & Commodities - Precious Metals ICICI Bank to sell gold coins Our Bureau
MUMBAI, Dec. 9 ICICI Bank is to retail 24 carat gold coins across the counter through its branches. "ICICI Bank Pure Gold" coins, to be imported from Switzerland is to carry a 99.99 per cent Assay certification, signifying highest level of purity as per international industry standards, said a press release. Initially to be available in 5 and 10 grams denominations, at its branches in Mumbai and Delhi, it is later to be available in more denominations in more cities. The gold coins are to be priced, based on daily prices on the international bullion market. Said Mr Amitabh Chaturvedi, Head-Retail Channels and Liabilites Group, ICICI Bank, "Gold continues to be one of the most popular modes of long-term investment in India, the gold market has remained largely un-organised. Through the pure gold offer we hope to provide customers a convenient and reliable way of purchasing gold.''
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