India gold coins - the initiative by the Indian government to create a national gold coin has been launched in Kochi, Kerala by state-owned MMTC, as per reports. The launch was commenced by Kochi Mayor Soumini Jain.

Kochi is the third centre where the Indian gold coins are being sold, apart from Delhi and Chandigarh, reports say.

MMTC is furthering this initiative through partnerships, having already tied-up with Indian Overseas Bank to distribute the coins, and will have Indian Post as another partner. It is also seeking to partner with more banks, and online sales. MMTC expects to churn revenues worth Rs 30 crore in the first year from Kerala region.

At the time of the launch of the coins, MMTC was the entity selling it, and after an RBI circular to allow banks to sell the coins, the same was being undertaken. At present the sale of the coins have generated around Rs 25 crore from 75 kgs of coins, in the country, as per reports.