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RSBL Launches Online Bullion Platform for Investors
Oct 22, 2012 7:56 AM
By Dilipp S Nag
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RAPAPORT... RiddiSiddhi Bullions Ltd. (RSBL), Finkurve Financial Services Ltd. and NCDEX Spot Exchange Ltd. together on Monday launched Bullion India, an online platform that allows investors to own small quantities of physical gold and silver at wholesale prices.
"Entire India wants to buy physical gold and silver and put them to use when the time is right,” said Prithviraj Kothari, the director of RSBL, which operates RSBL Spot online trading system for jewelers. “Bullion India is the only medium that enables a retail client to purchase gold and silver as if they were buying shares and still use them physically whenever they need them.”
According to the promoters, investors can register on www.bullionindia.in and buy as little as 0.1 gram of gold and 1 gram of silver at real time wholesale prices through net banking and debit cards. They can also sell, save and redeem their gold and silver on a daily basis. Investors don’t need to pay brokerage, storage fee and account opening charges.
Gold bars are available in 1 gram, 5 grams and 10 grams of 24 karat 99.5 percent purity, while silver bars are available in 10 grams, 20 grams, 50 grams and 100 grams of 24 karat 99.9 percent purity. These bars are home delivered at a nominal cost. The company plans to promote Bullion India through its RSBL Spot network.
The company stated that there is no single national brand providing coins at the real time price of gold. Individuals have purity issues with local jeweler coins, banks and large jewelers charge higher prices for coins, exchange traded funds are also costly and only demat holders can access them, it added.
“With such price advantage a retail investor can always take the opportunity to add gold and silver to their financial portfolio,” said Kothari.
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Tags:
bullion, Bullion India, Dilipp S Nag, gold, India, NCDEX Spot, Prithviraj Kothari, RSBL, silver
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