Banks Can Sell MMTC Gold Coins

  • The RBI has allowed banks to sell gold coins by the public sector MMTC Ltd.
  • MMTC has earlier been authorized by the Central Government to manufacture gold coins with Ashoka Chakra.
  • RBI said that MMTC has clarified to the Reserve Bank that the gold used for IGC will be mobilized domestically under the existing Gold Deposit Scheme and Gold Monetisation scheme.