A recent press report said that South Indian Bank (SIB), has launched gold coins and ingots titled ‘Pure Gold’ and called upon customers to make use of the global trend in gold prices and invest in pure gold brought from Switzerland. Reports said that the SIB brand ambassador and actor Mammoth launched SIB Pure Gold by handing it over to actress Kavya Madhavan.
Reports said that SIB managing director and chief executive officer V.A. Joseph said that the 24-carat 999.9 pure gold was from the world renowned refinery PAMP in Switzerland, and would be available in coins weighing four gm, eight gm, and 20 gm, apart from bar-shaped ingots of 50 gm and 100 gm from select SIB branches in Kerala and Tamil Nadu.
The bank has also launched the ‘SIB Smart Shopper’ contest offering customers a chance to win up to Rs 10,000 as cash-back every month on using SIB debit card.
South Indian Bank is a private sector bank headquartered at Thrissur in Kerala, India. It has 580 branches and 3 extension counters spread across more than 26 states and union territories in India. It has set up 375 ATMs all over India. The bank has been appointed as the largest service provider (point of sale) for the New Pension Scheme (India) launched by the Government of India. It offers home loans, personal loan, gold loan, education loan, agricultural loans etc.