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Debashis Basu’s review (Moneylife, 8 March 2012) of the book Beyond the Invisible Hand by Dr...

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ING Vysya Bank to sell Swiss-imported 24-carat gold coins

ING Vysya Bank is importing the gold coins from Switzerland and would offer it in tamper-proof packing, along with the assay-certification

ING Vysya Bank is importing the gold coins from Switzerland and would offer it in tamper-proof packing, along with the assay-certification

Mumbai: ING Vysya Bank said it would offer 24-carat gold coins of 5 grams, 8 grams and 10 grams which will be sold based on international bullion rates.

In a release, the lender said these gold coins are imported from Switzerland and have 999.9 fineness. The coins are offered in tamper-proof packing, along with the assay-certification, the release said.

"Gold as an asset class is a key alternate investment avenue for individual investors and also acts as a natural hedge against other asset classes. We have been seeing tremendous demand for this product," said Uday Sareen, country head for retail banking, ING Vysya Bank.

The bank plans to use its branch network to distribute gold coins, with 149 branches currently offering the product.

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