SBI launches gold coins

Mumbai, Nov 6 (UNI) India's largest lender State Bank of India, in a move to encash the festive demand, today launched its retail sale of gold coins in 5 and 10 gram denominations through selective branches in India.

These coins will be available at over 100 selective branches of SBI across the country before Diwali. It has further plans to introduce gold biscuits in 20 and 50 grams denominations for the customers willing to invest in gold, SBI sources said here today.

Speaking to mediapersons at the launch, SBI Chief General Manager, Mumbai Circle, N Raja said the bank has already launched a pilot project of the sale of gold coins, on September 11 this year, in three circles including Ahemdabad, Hydrabad and Chennai at 24 branches.

''Today, we are launching our retail gold coins business at 11 selective branches in Mumbai circle, apart from 29 branches in other circles,'' he said, adding that ''The bank will extend it to 100 branches across the country.'' The daily retail rates will be displayed at branches which will be selling the gold coins, the bank added.

UNI