| "We received the Reserve Bank of India (RBI) approval to start depository services three months back, and have entered into an agreement with the National Securities Depository (NSDL). We are in the process of training our staff and putting in place a platform to provide online services. We will introduce depository services in two-three months' time," CP Swarnkar, chairman of Syndicate Bank, said. |
| The bank commenced the sale of gold coins on Friday under the brand name, 'Syndsona' through its 104 branches in the country. Imported from Switzerland, the coins are available in denominations of 4 gm, 8 gm and 10 gm. |
| "Around 90 per cent of the first consignment of 80 kg of gold coins has been sold, while we have cheques on hand to deliver the remaining. In keeping with this velocity, we expect to sell around 3 tonnes gold coins this financial year," Swarnkar added. |
| The bank is also gearing up to introduce high denomination gold coins in the coming months, with plans to offer customised coins with various designs, logos and denominations, depending on bulk orders. |
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