April 23rd, 2012
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In the name of Akshaya Tritiya attempts to privatize India post

india-postKochi: With Akshaya Tritaya round the corner all roads will lead not only to gold shops but also to Post offices that have begun marketing for Akshaya Tritaya in collaboration with Reliance. Allegations have been raised that this is an attempt to intensify the privatization of Indian Post by the central government.

India Post, in association with the World Gold Council and Reliance Money Infrastructure Ltd, began selling gold coins made by Switzerland’s Valcambi in 2008. At present, gold coins are available at more than 800 post offices across the country. As per certain critics the gold which is not sold directly by the government is an attempt to make profit for Ambani Reliance group. The gold coins sold on Akshaya Tritiya are sold at a cost which is 6 percent less than market cost to improve the position of reliance money.

Buying gold is an important aspect of the festival that is on April 24 this year. The festival offer will be available at designated post offices across India on gold coins of 0.5 g, 8 g, 10 g, 20 g and 50 g of 24 carat and 99.99 per cent purity, a press release said. In Kerala gold coins have been made available at 32 offices.



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