India Post,in association with Reliance Money and World Gold Council,on Wednesday announced its plans to launch Gold Accumulation Plan (GAP) via its retail network. "Customers can now purchase gold coins from any India Post outlet across 9 states in the country. Going forward,we not only plan to further expand this service to another 100 India Post outlets but also launch our Gold Accumulation Plan to help customers make systematic investments in gold," said Sunita Trivedi,Chief General Manager,India Post. The proposed GAP will offer customers a SIP (Systematic Investment Plan) like option while investing in gold through accumulation of small quantities as and when they have the money during a particular month. Retailing gold through India Post is a ground-breaking initiative in the Indian investment sector and one of its kind. The success of this pilot study is a true reflection of the faith an Indian has in India Post and in gold as an asset class, said Ajay Mitra,Managing Director of World Gold Council,India.
