Business Daily from THE HINDU group of publications
Thursday, Sep 27, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Sep 27, 2007 ePaper |
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Agri-Biz & Commodities
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Gold & Silver Money & Banking - Financial Services Marketing - Strategy Reliance Money ties up with TV 18 unit Gargi Shah Mumbai, Sept. 26 Reliance Money is the new kid on the block selling gold coins. The Anil Dhirubhai Ambani Group company is importing 24 carat gold coins (.999 fineness) from the Swiss-based refiner Valcambi, through Scotia Mocatta, division of The Bank of Nova Scotia. “We currently offer 5 gm and 8 gm coins but plans are in the offing to launch 0.5 gm, 1 gm and 2 gm coins,” said Mr Sudip Bandyopadhyay, Director & CEO of Reliance Money. “We have sold 100 kg of gold coins from April 2007 when we began operations,” he said, adding “we seek to promote gold coins as a gift item as well as for savings.” With its tie-up with home shopping network floated by media group Television Eighteen India (TV 18), purchase of gold coins will just be a phone call away. Buyback“We are reasonably confident to offer buyback of our gold coins by this year-end,” said Mr Bandyopadhyay Reliance Money forays into gold coin retailing Reliance Money targets 10,000 kiosks by March 2008 More Stories on : Gold & Silver | Financial Services | Strategy | Buyback
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