Indian Overseas Bank (IOB) has become the first bank to commence the sale of Indian Gold Coin (IGC) in the domestic market.
- It has tied up with MMTC for the sale of IGC of 24 carat purity.
- The IGC has the national emblem, the Ashok Chakra, engraved on one side and the face of Mahatma Gandhi on the other.
- The coin carries advanced anti-counterfeit features and comes in tamper-proof packaging.
- The current denominations available are 5, 10 and 20 gm. IGC is the first ever national gold offering by the Centre and was launched by Prime Minister Narendra Modi on November 5.
- IGC in Delhi was launched in the presence of Alok Pande, Director in the Department of Financial Services, Finance Ministry, and Anand Trivedi, Director (PMS), MMTC, besides other senior officials.
- This gold coin is minted by the Security Printing and Minting Corporation of India Ltd and hallmarked by the Bureau of Indian Standards.
Indian Gold Coin (10gm)
The Indian gold coin is unique in many respects. Here are its features:
- Minted in India.
- Purity: The Indian gold coin will be of 24 karat purity and 999 fineness.
- Hallmarked: All coins will be hallmarked as per the BIS standards.
- Security: The tamperproof packaging and advanced anti-counterfeit features on the coin cover make s it very safe and easily recyclable.
- Availability: This coin will distributed through designated & recognised state-owned Metals and Minerals Trading Corporation of India (MMTC) outlets.
