Should this catch on in India, it would represent major support for physical silver sales.
Regards - VHF
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HDFC Bank to start silver bar trade from May 16
PTI News
New Delhi, May 9 (PTI) Buoyed by the success of its yellow metal retail, HDFC Bank is all set to venture into silver bar trade from next week.
"We will be selling silver bars from our branches starting from the auspicious day of Akshaya Tritiya (May 16)," HDFC Bank retail liabilities products group head Seshan Ramakrishnan told PTI.
HDFC Bank would be the first in the country to retail silver bars through its branches, he claimed.
To start with, the bank is launching 50 gram denomination silver bars, he said, adding, the bank can roll out other denominations in the future based on response.
The bank is already one of the leading players in the gold coins trade. Currently, gold coins are being sold through 1,400 branches across and last year on the Akshaya Tritiya day it sold 440 kg of gold, he said.
