Hyderabad, Nov. 26 The Department of Posts in partnership with Reliance Money Ltd., (an ADAG Group company) today announced their move to sell gold coins of 24-carat in tamper proof packs of 0.5, 1, 5 and 8 gms weight in select India Post outlets.
RML in tie-up with Swiss Gold will supply gold coins and the network of India Posts centres will provide an ideal platform to market them.
The Chief Postmaster General, Andhra Pradesh Circle, Ms. Yashodhara Menon, said “people in India do not need any excuse to buy gold, whose purchase is always seen as auspicious. This tie up will help people who come to India Post an option to buy gold in small coins.”
Addressing a press conference, she said India Posts has tied up with Reliance Money and rolled out sale of gold coins in several States in the country and has announced similar tie up today in three more States.
India Posts had earlier facilitated marketing of mutual fund products of Reliance Energy Resources and sees this relationship blossoming into other businesses, which will be mutually beneficial, while adding to revenues, she said.