Page 49 - Bullion World Volume 02 Issue 08 August 2022

IDBI Bank's Gold Loan

Business Crosses Rs
10,000-Crore Milestone

Invest in
The bank's gold loan book has achieved a prestigious
milestone and crossed the Rs 10,000 crore landmark. In the
Rs 5,000 crores to Rs 10,000 crore. The LIC-controlled bank Digital Gold
last two years, the bank's gold loan book has doubled from

said its loan processing system is fully automated, which
has helped in the growth of the gold loan book. Customers Fintech startup Dinero, on July 12, launched the option
complete the transactions generally in 10-15 minutes, it to win digital gold on its app by partnering with MMTC-
added. PAMP India Pvt. Ltd, in a bid to attract young Indians.

Source: https://www.outlookindia.com With this launch, users stand a chance to win 999.9
per cent pure gold at any time on Dinero’s application.
The Dinero app encourages young people to invest in
various avenues through its platform and rewards them
with items, including digital gold, once they reach the
investment gold.

Dinero and MMTC-PAMP create the perfect synergy,
capitalizing on the digital infrastructure provided by
MMTC’s platform and Dinero’s consumer base to reach
out to the segment of young Indians, urging them to
invest their money further and earn Digital Gold as a
reward.

Source: https://www.news18.com

MCX cautions

investors against

fraudulent online gold

investment schemes

MCX, the country's largest commodity exchange, has
warned investors not to get trapped in the fraudulent
gold investment schemes run by unscrupulous online
websites using its brand name. MCX has clarified that
it has not associated with DBS Bank in Singapore for
any wealth management activities, nor does it have Egyptian companies inject
any relationship with Gold-Master. Gold-Master is
neither registered as a member of the exchange nor $8.1m investments in the
is it an ‘Authorized Person’ of any registered member
of the Exchange. gold exploration sector

Source: https://www.thehindubusinessline.com
Akh Gold, a subsidiary of Altus Strategies, signed a $4.1m agreement
with the Egyptian government to search for gold in nine areas in the
Eastern Desert. Moreover, the Egyptian Mining and Manufacturing
Company – MEDAF signed a similar agreement worth $3m to search
for gold in one area.

Source: https://dailynewsegypt.com