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.