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Location and date New Delhi, 6 November 2015
For Immediate Release
Prime Minister Narendra Modi launches ‘Indian Gold
Coin’ and ‘Indian Gold
Bullion’
The Honourable Prime Minister of India, Shri Narendra Modi has
launched the Indian Gold Coin and
Indian Gold Bullion at 7 Race Course Road, New Delhi on 5
November 2015. Both, the coin as well as
the bullion will be the first ever national gold offerings by
Government of India.
The coin and bullion will be of 24 karat purity, 999 fineness
and will have the national emblem of AshokChakra engraved on one
side and the face of Mahatma Gandhi on the other. Initially, the
coin will be
available in denominations of 5 and 10 grams with more weight
options to be launched later. The bullion
will initially be available in a denomination of 20 grams. The
coin and bullion will carry advanced anti-
counterfeit features hence protecting consumer interests and
will come in tamper-proof packaging.
Both the Indian Gold Coin and the Indian Gold Bullion are among
the key initiatives of the gold reform
schemes announced in the 2015 budget.
Government has mandated MMTC Ltd., A Government of India
Enterprise, under the Ministry of
Commerce and Industry, Department of Commerce to launch the
Indian Gold Coin and the Indian Gold
Bullion. These will be minted by the Security Printing and
Minting Corporation of India Limited (SPMCIL)
and hallmarked by the Bureau of Indian Standards (BIS). The
World Gold Council will be the marketingassociate in this venture
to create awareness about the coin and the bullion.
This along with the gold monetisation scheme will give added
impetus to organised recycling of gold in
India, which will help to boost the Indian economy further. The
Indian Gold Coin and the Indian Gold
Bullion align with the ‘Make in India’ initiative of Government.
These will become part of a global basket of
gold coins and bullions that currently include the American
Eagle (USA), Panda Coin (China), Maple Leaf
Coin (Canada), Krugerrand Coin (South Africa) and others, and
will be made available in overseas
markets including the UK, the USA and South Africa.”
The coin and bullion will be sold through MMTC outlets across 15
cities including Jaipur, Ludhiana,
Bhubaneswar, Puri, Barbil, Kolkata, Goa, Ahmedabad,
Visakhapatnam, Hyderabad, Bellary, Chennai,
Delhi, Bengaluru and Mumbai. Several banks and India Post will
soon be added to increase theavailability and distribution.
For more information,
visit www.indiangoldcoin.com.
ENDS
http://www.indiangoldcoin.com/http://www.indiangoldcoin.com/
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Note to editors:
MMTC Ltd.
MMTC is one of the largest importer of gold and silver in the
Indian sub-continent and supplies gold on loan
and outright basis to the exporters, bullion dealers and
jewellery manufacturers on all India basis. MMTC retails
gold and silver medallions & its own branded Sterling
Silverware (Sanchi) with showrooms in all the major
metro cities of India. MMTC also markets branded hallmarked gold
and studded jewellery. duly accredited with
Bureau of Indian Standards. MMTC was the pioneer in setting up
assay and hallmarking units for testing purity
of gold and silver.
Besides organizing major jewellery exhibitions in India &
abroad, MMTC also has a medallion manufacturing
unit for minting of Gold/Silver medallions.
Bureau of Indian Standards
The Bureau of Indian Standards (BIS) is the national Standards
Body of India working under the aegis of
Ministry of Consumer Affairs, Food & Public Distribution,
and Government of India. It is established by the
Bureau of Indian Standards Act, 1986 which came into effect on
23 December 1986. The Minister in charge of
the Ministry or Department having administrative control of the
BIS is the ex-officio President of the BIS.
BIS has members drawn from Central or State Governments,
industry, scientific and research institutions, and
consumer organizations. Its headquarters are in New Delhi, with
regional offices in Kolkata, Chennai, Mumbai,
Chandigarh and Delhi and other branch offices.
Security Printing and Minting Corporation of India Limited
Security Printing and Minting Corporation of India Limited
(SPMCIL) was formed after corporatisation of nine
units including four mints, four presses and one paper mill
which were earlier functioning under the Ministry of
Finance. The Company was incorporated on 13.01.2006 under the
Companies Act, 1956 with its headquarters
at New Delhi. SPMCIL, a Miniratna Category-I CPSE, and wholly
owned Schedule ‘A’ Company of Government
of India, is engaged in the manufacture of security paper,
minting of coins, printing of currency and bank notes,
non-judicial stamp papers, postage stamps, travel documents,
etc.
World Gold Council
The World Gold Council is the market development organisation
for the gold industry. Our purpose is to
stimulate and sustain demand for gold, provide industry
leadership, and be the global authority on the gold
market.
We develop gold-backed solutions, services and products, based
on authoritative market insight and we work
with a range of partners to put our ideas into action. As a
result, we create structural shifts in demand for gold
across key market sectors. We provide insights into the
international gold markets, helping people to
understand the wealth preservation qualities of gold and its
role in meeting the social and environmental needs
of society. The membership of the World Gold Council includes
the world’s leading and most forward thinking
gold mining companies. For more information log
into www.gold.org.
http://www.gold.org/http://www.gold.org/
