By IANS,
New Delhi : India Post, the country’s postal services, will start selling 24-carat gold coins through its post offices, the government announced here Wednesday.
The coins will be available in over 100 post offices in Delhi, Tamil Nadu, Maharashtra and Gujarat in the pilot phase, Minister for Communications and Information Technology A. Raja told reporters on the sidelines of a conference.
“We have initiated the process to commercialise the post offices and increase their visibility,” Raja said.
India Post has initiated the process in association with the World Gold Council and the Anil Ambani-headed financial services firm Reliance Money.
Raja said the coins will come in weights of 0.5 gram, one gram, five grams and eight grams at rates prevailing in the market for gold.