Q. Is
ICICI Bank venturing into gold/bullion market?
A. Yes, ICICI Bank has RBI approval to retail gold/bullion to its
customers.
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Q. What
form is Gold being sold as?
A. Gold is being sold in the form of round shaped coins for 2.5,5 and 8 g.
For 20 g and 50 g, gold is being sold in the form of rectangular shaped bars.
For 2.5 g, gold is also available in heart-shaped coins.
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Q. In
what weights would gold be available?
A. Gold is available in 5 weights - 2.5g, 5g, 8 g, 20 g and 50 g.
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Q. How
will ICICI Bank sell the gold?
A. Initially, ICICI Bank will sell the gold through its branches.
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Q. What
is the purity factor of gold?
A. ICICI Bank Pure Gold will be of 24 Karat, 99.99% purity gold.
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Q. Is
gold imported ?
A. Yes, the gold is made by PAMP Refinery Switzerland and will be
imported from there. PAMP is one of the most reputed and known refineries.
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Q. What
is the authenticity proof?
A. The gold is packed in tamper - proof blister packs that are see
through at the manufacturing stage itself to prevent any damage/
theft during transit.
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Q. Who
can buy the gold?
A. Both ICICI Bank Customers and non-ICICI Bank customers are eligible
to buy gold. However, ICICI Bank customers can issue a cheque from
their savings account or provide a debit mandate towards purchase
of gold.
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Q. What
is the price that the gold will be sold at?
A. The price will depend upon the market rate of gold.
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Q. Will
ICICI Bank buy back the gold sold by them ?
A. ICICI Bank does not buy the gold sold by them.
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Q. How
can I buy gold through a Branch?
A. You can buy gold through an ICICI Bank branch by following these
simple steps:
- Visit the Pure gold counter and
inform the mode of payment.
- Fill in the Gold Deposit Slip.
The Gold Deposit slip will have a Specific Gold Coin account
number pre printed on it.
- Tick the weight(s) that you want
and based on daily price deliver the cash/DD to the cashier.
- Cashier will acknowledge the
receipt and give the acknowledgment to you and send other part
of the slip to the front desk for issuance of coins.
- Produce the acknowledgment slip
at the front desk on the basis of which the gold coins will
be delivered to you.
Procedure for payment through third party cheques
- Fill in the Gold Deposit Slip
(different colour). This slip will have a Sundry Ledger - Gold
account no. pre printed on it.
- The teller will collect the cheque
and acknowledge the receipt and issue one part of the acknowledgment
slip to you and the other part to the front desk.
- Front desk will enter the details
of the denominations in Deemed Sale Register and issue the token
to you.
- The gold coins will be delivered
to you on realization of the cheque (ideally after 4 working
days) once you surrender the token and the acknowledgment slip.
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Q. Can
I make a payment by issuing a third party cheque in favour of ICICI
Bank Ltd?
A. Yes, you can purchase gold by paying through a third party cheque
in favour of ICICI Bank Ltd, however the gold can be collected only
after realization of the cheque, which would ideally take 3-4 working
days.
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