CURRENT AFFAIRS

Detailed explanation-1: -Indian Overseas Bank (IOB) has become the first bank to commence the sale of Indian Gold Coin (IGC) in the domestic market. It has tied up with MMTC for the sale of IGC of 24 carat purity.

Detailed explanation-2: -Kerala based private sector lender, Federal Bank has tied up with MMTC Ltd. for distribution of Indian Gold Coins (IGC), the first-Ever national gold offering by the government, which was launched by Prime Minister Narendra Modi In November 2015.

Detailed explanation-3: -Both Union Bank customers as well as non customers can purchase Gold Coins from our branches. Union Bank customer can buy gold coins by issue of cheque from their accounts or provide a debit instruction. Non-customers can deposit cash for purchase of Gold Coins if the value is less than Rs. 50, 000/-.

Detailed explanation-4: -Kadphises II was the Kushana emperor to first introduce gold coinage, in addition to the existing copper and silver coinage.

Detailed explanation-5: -The Indo-Greeks were the first rulers in India to issue coins which can definitely be attributed to the kings. They were the first to issue gold coins in India.