Indian Overseas Bank has become the first bank to start distribution of India Gold Coins (IGC). The coins are available in 5, 10 and 20 grams and the bank will distribute these through limited branches. The bank has been the first to enter into agreement with MMTC for the sale of IGC, the first-ever national gold offering by the government, launched by prime minister Narendra Modi. The coins are of 24 carat purity, 999 fineness and have the national emblem of Ashok Chakra engraved on one side and the face of Mahatma Gandhi on the other. The coins are minted by the Security Printing and Minting Corporation of India and hallmarked by the Bureau of Indian Standards.
