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MMTC plans to sell sovereign gold coins to NRIs: Report

03 Nov 2016 Evaluate

MMTC is reportedly planning to sell sovereign gold coins to non-resident Indians (NRIs). The company has tie-ups with seven banks namely ICICI Bank, HDFC Bank, Indian Overseas Bank, Vijaya Bank, Federal Bank, Yes Bank and Andhra Bank, for distribution of sovereign gold coins. The company has initially identified South Africa, the UK, Middle East and Singapore as the target markets for distributing gold coins which carry Ashoka Chakra on one side and Mahatma Gandhi’s face on the other. The sovereign gold coin is available in 5 and 10 gm. It is also offering an Indian gold bar of 20 gm.

MMTC is major global player in the minerals trade and is the single largest exporter of minerals from India. With its comprehensive infrastructural expertise to handle minerals, the company provides full logistic support from procurement, quality control to guaranteed timely deliveries of minerals from different ports, through a wide network of regional and port offices in India, as well as international subsidiary.

MMTC Share Price

75.64 1.08 (1.45%)
22-Jun-2026 14:58 View Price Chart
Peers
Company Name CMP
Redington 279.00
Amrapali Industries 40.20
Adani Enterprises 3046.85
Rashi Peripheral 761.55
PDS 343.80
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