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Friday, 24th April 2009 (2101 views)

IndusInd Bank has stated that it plans to sell around 150 kgs of gold coins during the Hindu festival of Akshaya Tritiya this year.

The Mumbai-based bank is hoping to maintain its gold coin trading over the religious period at the same rate as 2008, Reuters reported.

Akshaya Tritiya is traditionally a gold-buying festival as purchases made during the annual event are thought to bring luck, success and prosperity.

Pinakin Vyas, chief manager treasury of IndusInd Bank, told the news source: "We are not aggressively looking to gold coin sales this Akshaya Tritiya and hope to maintain at last year's level."

In related news, Gitanjali chairman Mehul Choksi told the Press Trust of India that the company plans to sell between 300 kg and 400 kg of gold coins during Akshaya Tritiya, which falls on April 27th this year.

The Bombay Bullion Association revealed that India started to import gold again this month ahead of the festival, following a two-month freeze.

 

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