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View Full Version : HDFC Bank to sell silver bars (That's in India)



jedemdasseine
20th April 2010, 08:44 PM
NEW DELHI (Reuters) - HDFC Bank will sell silver bars during a May local festival for precious metals purchases, the first time ever by a bank, as demand picks up, a top executive of the bank said on Monday.

The move, to sell silver bars weighing 50 grammes each, indicates domestic consumers, the world's largest buyers of gold, are willing to add silver to their investment portfolio for diversification.

The private-sector bank, a large seller of gold, expects a 30-percent rise in its gold coins sales during the Akshaya Tritiya festival on May 16, Seshan Ramakrishnan, head of the bank's retail liabilities group told Reuters.

http://in.reuters.com/article/businessNews/idINIndia-47814920100419?rpc=401&feedType=RSS&feedName=businessNews&rpc=401