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Buy Indian Gold Coin at IOB today


Bank’s branches to remain open on 8th of April, for sale of Indian Gold Coin!

The Indian Overseas Bank (IOB) has today announced the sale of the Indian Gold Coin across all its branches in Mumbai on 8thApril on the occasion of Gudi Padwa. The coins will be made available at 21 branches of IOB across Mumbai. MMTC Branch in Bandra Kurla Complex will also be open on 8th April to sell Indian Gold Coin.

The Indian Gold Coin will be available in denominations of 5 grams, 10 grams coin and 20 grams bar. This initiative provides Mumbaikars the golden opportunity to purchase the Indian Gold Coin through IOB branches to bring in the Maharashtrian New Year.

Ved Prakash, CMD MMTC said, “The festival of Gudi Padwa marks the auspicious beginning of a new year in Maharashtra. It is indeed a commendable decision made by the Indian Overseas Bank to keep their branches in Mumbai open and enable access to consumers who wish to purchase the Indian Gold Coin. This coin is a symbol of purity, standardisation and monetisation, making it an ideal purchase for those who are planning to buy gold this Gudi Padwa.”

Commenting on the announcement, Spokesperson of Indian Overseas Bank said, “We are excited to offer the Indian Gold Coin to our consumers in Mumbai who wish to buy gold during the auspicious occasion of Gudi Padwa. Our 21 branches in Mumbai will remain open to sell Indian Gold Coin on the day of the festival.”

The coins have Ashok Chakra engraved on one side and the face of Mahatma Gandhi on the other. The coins are priced in a transparent and competitive manner. Hallmarked by BIS, the security of the Indian Gold Coin is guaranteed through tamperproof 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. It can be easily concluded that the Indian Gold Coin is currently one of the purest forms of gold available in the country and is ‘Minted in India’. Indian Gold coin is a unique Gold Coin which offers Positive Tolerance both for weight and guaranteed purity.

The Indian Gold Coin is among the key initiatives of the gold reform schemes launched in November 2015 by the Hon’ble Prime Minister of India. Indian Gold Coin is brought to the public under Indian Government’s vision of “Make in India” and gold sourced from Temple etc under Domestic Gold Deposit Scheme/Gold Monetisation Programme.

The government has mandated MMTC Ltd., A Government of India Enterprise, under the Department of Commerce, Ministry of Commerce & Industry to launch the Indian Gold Coin. The coin is currently also retailed through 20 of MMTC outlets nationally. Two branches of Phulkari in Chandigarh and New Delhi also sell Indian Gold Coin.

These coins are minted by the India Government Mint - Security Printing and Minting Corporation of India Limited (SPMCIL) and hallmarked by the Bureau of Indian Standards (BIS). The World Gold Council is the marketing associate in this venture to create awareness about the coin. For more information, visit www.indiangoldcoin.com or call on the Toll Free Number 18001800000.