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SBI to tie-up with MMTC to sell gold coins

05 Dec 2016 Evaluate

State Bank of India (SBI), the country’s largest public sector lender, will enter into an agreement with MMTC to sell government-minted ‘Indian Gold Coin’. The coin is available in denominations of 5gm, 10gm and 20 gm bar.

MMTC, the state-run bullion trader, which has already tied up with over half a dozen banks, has so far sold one lakh pieces of ‘Indian Gold Coin’ and has set a target of selling 5 lakhs units in the next few years.

SBI offers a wide range of services in the Personal Banking, Agriculture/Rural, NRI services, SME and Corporate Banking etc. The Bank has reported 34.56% fall in its net profit at Rs 2,538.32 crore for second quarter ended September 30, 2016 as compared to Rs 3879.07 crore for the same quarter in the previous year.


Peers
Company Name CMP
State Bank Of India 980.00
PNB 123.90
Bank Of Baroda 241.50
Canara Bank 119.75
Union Bank Of India 186.15
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