MMTC Pamp launches new gold coin 'Tola'

KOLKATA: MMTC-PAMP, India’s only internationally accredited gold and silver refinery, unveiled its Vedic gold offering, titled ‘The TOLA’, on Friday, just ahead of the Akshaya Tritiya festival when many Hindus consider buying of precious metals auspicious.

Conceptualised and designed as a unique and historical product, ‘The TOLA’ coins will be available at certain outlets of Stock Holding Corporation of India, Indian Potash and MMTC-PAMP retail outlets. Some jewellers in cities like Ahmedabad, Allahabad, Bengaluru, Vadodara, Chandigarh, Chennai, Coimbatore, Delhi, Dharwad, Faridabad, Gandhidham, Gandhinagar, Ghaziabad, Gurugram, Hyderabad, Jaipur, Jodhpur, Kanpur, Karkala, Ludhiana, Mangaluru, Mumbai, Nagpur, Noida, Palwal, Raipur, Salem and Secunderabad will also sell the coins.

“For centuries, trade in gold was inexorably linked with the tola, a measure of weight when dealing in gold, with India having its pride of place as the gold hub of the world,” Rajesh Khosla, managing director of MMTC-PAMP India, said at the unveiling of the new coins. “The advent of the metric system overtook this historical association, and the tola as a unit of weight was fast becoming a wistful, romantic memory, consigned to the sands of time,” he said.