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Tuesday, 4th September 2007 (6951 views)

Reliance Money, a branch of Reliance Capital, is launching a selection of gold coins which weigh in at the lower end of the scale, it has been revealed.

The Economic Times India reports that the gold coins are being launched as an attempt to "cash in" on what it refers to as "festive fervour".

The currency will be available as two gramme, one gramme and 0.5 gramme gold coins.

"We are planning to launch gold coins of [low-end weight] before Diwali to meet the demand from lower-income segments," Reliance Money chief executive officer Sudip Bandyopadhyay said, according to the newspaper.

Mr Bandyopadhyay added that a gold coin weighing 0.5 grammes will cost 500 rupees (£6.00) while a one gramme gold coin would cost 1,000 rupees.

Reliance Money currently offers gold coins weighing five grammes for 5,200 rupees and eight gramme gold coins for 8,000 rupees.

 

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