NEW DELHI(BullionStreet): India's largest bullion importer, Minerals and Metals Trading Corporation, better known as MMTC announced plans to expand gold delivery centres across the nation.
According to MMTC director, Anand Trivedi, the public sector firm is planning to open 11 new gold delivery depots across the country, especially in tier II and III cities.
The move is expected to increase gold supply to jewellery sector, which was currently facing an acute shortage of gold due to import restrictions imposed by the Reserve Bank of India.
MMTC at present only supplying gold to consumers in three cities in India including Delhi and Mumbai. ...