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MMTC has been authorized to manufacture
India Gold Coins (IGC) with Ashok Chakra and supply it to the domestic market. Only
the gold mobilized domestically under the existing Gold Deposit Scheme (GDS)
and Gold Monetization Scheme (GMS) shall be used for IGC.
It has been decided to allow the
designated banks, to sell the IGCs minted by MMTC. The terms and conditions will
be guided by the contract between the designated bank and MMTC.
The current restriction on selling of
imported gold coin by the banks will continue.
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