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HDFC bank to sell gold bars

August 19, 2005 18:39 IST

HDFC Bank is to sell gold bars with the launch of a new service, 'Mudra' where it would offer customers and non-customers branded five gram gold bars with a purity of 99.9 per cent.

The gold bars will be available in tamper proof packing along with the Assayers certification, the bank said on Friday.

The service launched to coincide with the beginning of the festive season will be sold through 160 branches in Mumbai, Delhi, Kolkata, Chennai, Bangalore and Hyderabad from August 27, it said.

HDFC plans to expand this service to other cities as well. "The product 'Mudra' is ideal for customers who have been demanding purity in gold for investment purposes.

Along with easy availability through the bank's network, customers can also enjoy easy liquidity thanks to the tamper-proof packaging and Assayer's certification," HDFC Bank's head, retail liabilities Shyamal Saxena said.