Bullion India to set up delivery centres, plans more products

V.Rishi Kumar Hyderabad | Updated on July 22, 2014

Buillion India on Tuesday announced its plans to set up a chain of delivery centres across the country while offering new products to facilitate investments in gold and silver.

The new products include transfer of units with the jewellers directly for purchase of jewellery.

Sachin Kothari, Director of Bullion India, said they were in talks to set up a chain of over 20 delivery centres across the country by the end of the current financial year. These delivery centres will support the predominantly online business model where investors invest in gold and silver.

Addressing a press conference here, he said the company's >online platform allows investors to own small quantities of physical gold and silver at the lowest possible denomination with transparent benchmark prices and no storage fees. It also provides the option to redeem these bars in multiple denominations and avail its delivery at the doorstep of customers.

He said that the prices on the site are lower than those offered on e-commerce sites and bank coins. The new delivery centres will be in addition to a strong network of associates.

Bullion India provides the convenience of buying as low as 0.1 gram of gold and one gram of silver (now at Rs 46) at wholesale prices, making it affordable. This is then stored in vaults, where banks and other similar service providers store gold and silver, he said.

The Mumbai-based Bullion India is promoted by RiddiSiddhi Bullions Limited.

Published on July 22, 2014

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