• Download mobile app
09 Apr 2020, Edition - 1731, Thursday

Trending Now

  • #Coronavirus ‘drastically altered’ India’s growth outlook: RBI
  • Plea in SC seeks to nationalise all healthcare facilities in India till COVID-19 is contained
  • Kerala looks at plasma from recovered patients to treat the sick person
  • U.P CM Yogi Adityanath to chair a key cabinet meeting on COVID-19 via video-conferencing at 5 pm today.
  • ASHA worker attacked in Belagavi for collecting health data.
  • Students of Classes 1 to 9, Class 11 to be promoted, no results to be declared: Himachal Pradesh Government
  • Brazil President Jair M Bolsonaro writes to PM Narendra Modi seeking medical assistance from India in the fight against COVID-19

Coimbatore

KVB announces the launch of its Precious Metals Business .

Covai Post Network

Image credit : Illustrative Image

Coimbatore : Karur Vysya Bank (KVB) Wednesday announced the launch of its Precious Metal Business.

A deeply entrenched bank with the country’s businesses, KVB serves approximately 6,000 jewellers and jewellery manufacturers and in order to serve them fully, the bank now offers precious metals (Gold & Silver) to its corporate customers (B2B), Bank release said.

This will enable our customers to compete more effectively in this highly competitive industry, it said.

The gems and jewellery business in India contributes about 7 per cent of the GDP and 15 per cent of total merchandise exports.

India is the second largest consumer of gold in the world and demand for gold in the country stood at about 700 tons during 2019.

As the Gems and Jewellery business is an important part of India’s economy the bank is now in a position to enhance its support to this important industry, the release said.

As a trial base, the bank delivered its first shipment to clients in Chennai and Coimbatore recently.

It is now in the process of ramping up the business to fully extend support, to its existing set of customers across the nation.

It may be re-iterated that this new business has been launched after ensuring the highest quality risk management, the release said.

Subscribe To Our Newsletter

COIMBATORE WEATHER