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RSBL Expands its Online Bullion Trading Network
May 31, 2012 7:30 AM
By Dilipp S Nag
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RAPAPORT... RiddiSiddhi Bullions Ltd. (RSBL) expanded its online trading system, RSBL SPOT, to Jaipur, Rajasthan, in order to boost its bullion business. RSBL’s trading system enables jewelers to buy and sell precious metals such as gold, silver and platinum online.
“Jaipur being a strategic location would enable all the jewelers in the state of Rajasthan to trade with convenience. Also it would provide the jewelers from smaller towns nearing Jaipur, a wider scope and exposure,” said Mukesh Kothari, the director at RSBL.
RSBL has launched 1 kilogram gold contract, 20 kilograms silver contract and 100 grams gold contract with Kiran Fine Jewellers Pvt. Ltd. The new contracts on RSBL SPOT will be traded only with the intention of giving or taking delivery within a T+2 cycle of trading, i.e. the delivery will need to take place within two working days of the trade, the company explained.
The company added that jewelers with VAT certificate of Rajasthan would be eligible for registration with RSBL SPOT.
The bullion dealer stated that currently RSBL's online trading system is available in Mumbai, Ahmedabad, Bangalore, Chennai, Coimbatore, Kochi, Hyderabad, Indore, Pune, Rajkot, Surat, Thrissur, Thiruvanthapuram, Vijayawada and Kolkata. RSBL SPOT was introduced in 2008 and has a client base of more than 2,000 jewelers across India.
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Tags:
bullion, Bullion Trading, Dilipp S Nag, gold, India, jaipur, jewelers, Online Bullion Trading, Rajasthan, Rapaport, RSBL, silver
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