Federal Bank is the first private sector bank in India to launch the sale of "Indian Gold Coins" minted by MMTC. The Indian Gold Coin (IGC) is the first ever national gold offering by the Government of India. The Government has mandated MMTC Ltd., a Government of India Enterprise, to launch and market the Indian Gold Coin. The Indian Gold Coins are of 24 karat purity, 999 fineness and has the national emblem of Ashok Chakra engraved on one side and the face of Mahatma Gandhi as in currency notes