"SBI is expanding its network for sale of gold coins and is desirous of short-listing/empanelling established manufacturers of proven track record for minting and supply of gold coins," the bank said on its website while inviting offers from manufacturers.
The SBI, which launched gold coin business around Diwali last year, will soon be shortlisting manufacturers for minting and supplying the gold coins weighing of 2, 5, 8, 10, 20 and 50 grams. Last year, the largest Public Sector lender opened around 100 branches across the country.
The gold prices have been continuously rising for quite some time because of a host of reasons which include weakening of dollar vis-à-vis rupee and increase in domestic demand.
Gold prices in the domestic market touched Rs 13,000 per 10 gram in Kolkata on March three. The metal is trading at Rs 12,960 today in the national Capital.
The manufacturers of the coins will be required to mint gold coins of 999.9/995 fineness from the bars supplied by the SBI.
As per the terms of offer, manufacturers will also be required to supply the coins in tamper-proof certified cards across the country.
The interested manufacturers can send their offers to the bank by March 24, 2008, SBI said.
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Gold: Give Yourself The Edge Of Bullion
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