IOB launches retail sale of gold coins in AP region

Vijayawada, Jan 19: The Indian Overseas Bank (IOB) launched retail sale of gold coins for its customers in the Vijayawada Region.

According to IOB Deputy General Manager A J Prasad, the sale was launched simultaneously in 13 branches of the region. The coins come with 999.9 purity.

Made by Produits artistiques metaux precieux (PAMP) of Switzerland, the coins would be available in four, eight, 20 and 50 gm denominations.

The coins would be sold in tamper proof 'certificards' packing duly certified and designed specially for the IOB.

The price of the coins would depend on the bullion rate in the market, Mr Prasad said.

On the bank's performance, Mr Prasad said the bank offered tailor-made products such as easy trade finance and Alankar Loan Scheme for women for purchase of jewellery.

Under the priority sector scheme, Rs 270 crore had been disbursed under housing and Rs 32 crore towards educational loans in the region, Mr Prasad observed.

UNI