Federal Bank has become the first private sector bank to start distributing gold coins made by government-controlled Metals and Minerals Trading Corporation of India (MMTCI). The Indian gold coins are of 24 karat purity, 999 fineness and has the National Emblem of Ashok Chakra engraved on one side and the face of Mahatma Gandhi as in currency notes on the other.
These coins were launched by the government of India last year. The first-ever national gold offering by the Government was launched by Prime Minister Narendra Modi In November 2015. The Federal Bank Limited is a major Indian commercial bank in the private sector, headquartered at Aluva, Kochi, Kerala. As on 31 March 2016.
So let’s do:
1. Name the bank, which has become the first private sector bank to start distributing gold coins made by government-controlled MMTCI?
Source – The Hindu