Bullion Consignment Business
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Bullion Consignment Business
India is the world's largest consumer of gold in jewelery as investment. Indian gold demand is firmly embedded in cultural and religious traditions. Over the past five years, Diwali and Akshaya Thrithiya has become a major gold-buying occasions in India. Gold also plays an important role in the marriage ceremony, where brides are often adorned from head to toe in gold jewellery. With an estimated 10 million marriages a year taking place in India, wedding-related demand is big business.
The Reserve Bank of India authorized ICICI Bank Limited to import gold / silver / platinum. ICICI Bank is catering only to domestic consumers of bullion by selling gold and silver on an outright basis. ICICI Bank Limited commenced bullion business by way of import of bullion on consignment basis from May 2002. Currently, ICICI Bank carries on the business of sale of bullion at Mumbai, Delhi, Kolkata, Ahmedabad, Bangalore, Chennai, Coimbatore, Jaipur, Agra, Lucknow, Noida and Kanpur just to name a few. As of today's date ICICI Bank supplies bullion at 28 Locations on Pan India basis.
The ICICI Bank Edge
The Reserve Bank of India authorized ICICI Bank Limited to import gold / silver / platinum. ICICI Bank is catering only to domestic consumers of bullion by selling gold and silver on an outright basis. ICICI Bank Limited commenced bullion business by way of import of bullion on consignment basis from May 2002. Currently, ICICI Bank carries on the business of sale of bullion at Mumbai, Delhi, Kolkata, Ahmedabad, Bangalore, Chennai, Coimbatore, Jaipur, Agra, Lucknow, Noida and Kanpur just to name a few. As of today's date ICICI Bank supplies bullion at 28 Locations on Pan India basis.
The ICICI Bank Edge
- Account Funding by means of Cash, Cheque/ DD at any Branch across India
- Desk timing is 9.00 AM to 11.00 PM
- The Pricing Margin presently is 5% for booking spot deals
- For unfix delivery client has to fund 108.5% of the gold value to take delivery. Unfix deals has to be fixed within 11 calendar days
- Same day Deliveries will happen only for those deals whose delivery orders are received by 7.45 pm at the Desk
Solutions for every need
