Federal Bank has entered into partnership with MMTC for distribution of Indian Gold Coins (IGC), the first-Ever national gold offering by the government. Through this tie-up with MMTC, the bank becomes the first among the private sector banks to offer this product to its customers. Available presently in denominations of 5, 10 and 20 grams, the coins are distributed through select branches of the bank across the country.
The Indian gold coins are of 24 karat purity, 999 fineness and has the national emblem of Ashok Chakra engraved on one side and the face of Mahatma Gandhi as in currency notes on the other. This is a government promoted coin and the only BIS hallmarked coin in India. The Indian gold coin carries advance counterfeit (security) features and tamper proof packaging.
