India Post's offers Half Gram Gold Free for every 10 Grams of Gold as Sankranti Gift

India Post has started from today a special offer of half a gram (.5 gm) gold coin free for every 10 gram gold coins purchased from selected post offices on the eve of Maha Sankranti. This offer is valid till 21st January, 2009. The offer is applicable on purchase of gold coins in any of the given combinations. The coins are in the affordable denominations like 0.5 gm., 1 gm., 5 gm., and 8 gm.

Customers can walk into the nearest Post Office to avail the offer.

India Post in association with World Gold Council and Reliance Money has ventured into the scheme for Sale of branded Gold Coins of 99.99% purity, which was hitherto being undertaken by leading PSUs/private sector banks. The scheme was launched in October 2008 in about 100 Post Offices spread across Delhi, Maharashtra, Tamilnadu and Gujarat Postal circles. The service was later extended to Punjab, Andhra Pradesh, Karnataka and Madhya Pradesh during November, 2008. Apart from enhancing the revenue of the Department, this has enabled India Post to usher in a new image of India Post as a modern and relevant organization in all areas of life.

India Post has been overwhelmed with the very good response from the public to this new initiative, especially from government servants and small investors. The Department of Post is seeking to take the gold coins to rural post offices at the earliest so that the benefit goes to the common man. During Phase-II of the project, Post Offices will be selling gold coins with India Post logo.

Small investors are buying gold coins from post office for two obvious reasons. First, the gold coin prices are competitive and economical compared to the offers from other suppliers including banks. Second, Post Office is focusing on the low-end denominations, thus making them more accessible.

Gold is the latest addition to a range of retail activity that India Post has already taken up. India Post has been selling various products under Retail Post category and there is sustained growth in the revenue from these activities. Post Office sells UPSC applications and university applications, it retails Darjeeling Tea in West Bengal, it markets Aloe Vera products in Gujarat and it takes orders for distribution of Prasadams of various temples in Andhra Pradesh and Kerala.

Source : Press Information Bureau

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