Tuesday, October 4 2005 16:05 Hrs (IST) - World Time -

Mangalore: Mangalore-based Corporation Bank, first among the public sector banks (PSB) to import gold, today (Oct 4, 2005) launched its centenary gold coin heralding the festive season.

Although gold jewellery is owned for adorning oneself at cultural and festive occasions, it is also owned for investment purposes, V K Chopra, Chairman and Managing Director of the bank said launching the gold coin here today.

When banks were first permitted to import gold bullion for domestic market in 1997, Corporation Bank was the first among the PSBs to import gold, he said.

The bank is also offering sale of small denomination (eight gram) gold coins, he said adding the, "Price will be dynamic depending upon the latest market rates."

The bank recently launched its equity broking facility for its customers having operating accounts. These services being offered in select branches in Mumbai have now been extended to customers here, Chopra said.