RiddiSiddhi Bullions Limited: A leading light in Indian bullion industry

The bullion market in India is an index that signifies the economic growth of the country. It indicates the amount of wealth the country possesses. Valued by its purity and mass, bullion is the bulk quantity of precious metals comprising gold, silver and platinum that can be assessed by weight and cast as a lump.

India is one of the biggest consumers of gold in the world. People in India buy gold not only for ornamental purpose but also as an investment option. In fact, investment in gold has always been a source of profits to everyone in the long term. People are always willing to invest in gold bullion.

RiddiSiddhi Bullions Limited (RSBL) is a leading company in India which deals in bullion, specialising in bars and coins of various precious metals like gold, silver and platinum. Being a company which facilitates investment in precious metals, RSBL endeavours to combine its technical and market experience with hard work and dedication to provide people the ability to make informed investment decisions.

RiddiSiddhi Bullions Limited  (RSBL) holds the largest variety of bullions and coins across India. The company’s commitment to excellence in customer service is evident in all facets of its business. RSBL's success is based on customer trust and respect backed by its highly valued staff and best quality products with modern trading mechanisms.

In a short period of time, RiddiSiddhi BullionsLimited (RSBL) has managed to become one of the leading players in the bullion industry. It has been among the market leaders in providing wholesale and retail level bullion delivery in the spot markets in India. Today, RSBL is India’s largest bullion trading company with a credit rating of SME 1 from CRISIL Ltd – the highest rating on the SME rating scale.

RiddiSiddhi Bullions Limited (RSBL) has successfully launched various products on the back of its expertise, brand equity and vast experience in the market. The company’s flagship product ‘RSBL SPOT’ is India’s first fully electronic over-the-counter (OTC) delivery based bullion-trading system and arguably the most successful in the world. It has more than 3000 online clients and numerous delivery centres across India. Over 90% of its bullion sale takes place through RSBL Spot.

As an extension to RSBL SPOT, RSBL has introduced an eCoins system – ‘RSBL eCoins’. This is a B2B system, wherein which one can buy or sell gold and platinum coins/bars as per competitive market price in Indian rupees. It has created new inroads in online distribution and pricing system for coins in India. This is one of the fastest growing products in the company’s portfolio.

RiddiSiddhi Bullions Limited (RSBL) also continues to run its successful classic model of retail coin distribution and it is a leader in that via ‘RSBL Coins’ - Pure Gold, Silver & Platinum Coins/Bars. Available in different shapes and sizes to meet individual requirements, these coins can also be customised to meet gifting/corporate requirements.

RSBL's ‘Optionally Convertible Debentures (OCDs)’ is a innovative product, which takes advantage of the price differences between gold spot/forward and futures prices of the commodity. The product has consistently provided investors with a return of over 15% per annum since its launch in 2007.

RSBL’s 'Bullion++' is another revolutionary product that provides investors with an opportunity to earn dual income: from an anticipated price appreciation and from lending income. Furthermore, investors need not worry about purity, storage charges, theft and insurance hassles. Investors can also choose non-lease model where the bullion is just stored.

Prithviraj Kothari, Director of RSBL, can be credited for the development of the gold, silver and bullion industry in India. Known as Bullion Man in the bullion market in India, Prithviraj Kothari has played a vital role in the introduction of gold ETFs in India. Under his vision, RSBL has successfully launched India's first and only electronic over the counter bullion trading system, RSBL SPOT.

Under his direction, RSBL has consistently been ranked amongst the top 10 unlisted public companies in India by Business Standard 1000. 

Gold funds’ growth plans at standstill; jewellers push for recycling

With the Reserve Bank of India curbing gold imports, gold-backed exchange-traded funds and

gold fund-of-funds find their expansion plans at standstill. On the other hand, jewellers, faced with

shortage of gold, are encouraging recycling of used jewellery by their customers.

Gold exchange-traded funds are awaiting clarifications from the RBI on gold import regulations.

According to Prithviraj Kothari, Director of Riddhi Siddhi Bullions, authorised agent for several of

the gold exchange traded funds in the country, exchange-traded funds are unsure how to expand

their assets. Expansions require creation of new units, which will in turn need fresh gold imports.

Gold exchange traded funds create new units against cash or gold given to them by an investor. “Now

that there is the 80:20 rule, fund houses are on the wait…” he said.

But demand for ETFs is currently weak. In the June quarter, the net outflow from these funds was Rs

206 crore as reported by the Association of Mutual Funds of India.

The Reserve Bank of India last week stipulated that 20 per cent of every consignment of gold

imported by banks has to be exported. Not much imports have happened since then. This has caused

a short supply of the yellow metal in the domestic market with banks and bullion dealers asking for

premium of around 3-5 per cent (above the landed cost). The premium is likely to rise further as the

Diwali season approaches, say market participants.

Kumar Jain, Vice-Chairman of the Bombay Bullion Association, said that imports in July would be

around 50 million tonnes, a third of 162 tonnes recorded in May.

Haresh Soni, Chairman of the All-India Gems and Jewellery Association, told Business Line that they

have asked all the members to incentivise sale of old jewellery by offering better prices.

“This will help bring in some supply and reduce pressure on prices,” he said. Thangamayil Jewellery,

a large player in the South markets said that it will soon kick-off promo ads offering a lower wastage

charge for old scrap gold.

ALTERNATIVE TO COINS

In its bid to reduce gold consumption, the RBI has also asked banks and jewellers not to sell gold

coins.

With jewellers not selling gold coins, are people who are coming to shops to buy gold coins, returning

empty handed? “No”, say jewellers.

B.A.Ramesh, Joint Managing director of Thangamayil Jewellery said: “When we say we don’t have

coins, people ask for chains or bangles and buy them”.

Soni says that seven out of ten customers who come to shops settle for some jewellery.

People who are hoarding gold as an investment are looking at less expensive jewellery for which

making charges are not too high.

Making charges start from 8 per cent and go up to 20-21 per cent on a piece of intricate jewellery.

Chains, for which the labour cost is only 8-9 per cent, are in good demand now, say jewellers.

Prithviraj Kothari of Riddhi Siddhi Bullion Association, praises Bombay Bullion Association.

What do UT Jhaveri’s Kumar Jain and Prithviraj Kothari of Riddhi Siddhi Bullion Association have in common? They are among twelve others invited as Directors of the association. Narsih Chenaji, Ashok Jain, Bullion's Chandrakant Patel, Shrigar Mangalsutra's Chetan Tungareshwar, G.M Golden's Ganesh Mathuria, Jugraj Kantilal's Jitendra Punmiya, Penta Gold's Ketan Shroff, Sangam Chain's Raman Solanki, Suvarna Sarita Jweller's Mahendra Choradia, Shilpi Jweller's Pramod Mehta, Suvarna Shilpi Chain's Prafull Ranavat, Palak Jweller's Shailesh Daga, and V Group's Vinod Jain are tipped to have been invited. How does the association fare in its social and economic activities? Its media co-ordinator, Kumar Jain, firmly stated that the association can efficiently handle its activities. No more disputes, for an amiable flagging-off of peace, Prithviraj Kothari, states he has been advised to pull out all pending cases from court. He also commended the association for increase in membership.

Riddhi Siddhi Bullions Limited

RSBL was established in the year 1994, it has been one of the market leaders in providing wholesale and retail level bullion delivery in the spot. It also forwards and futures markets in India. Today, RSBL is the India's largest bullion trading company with an annual turnover of over Rs 22,900 crore. It has a credit rating of SME 1 from CRISIL Ltd, which is the highest rating on the SME rating scale. The company's promoters have a combined experience of over 100 years in the industry.
Riddi Siddhi Bullions Limited (RSBL) deals in bullion, specializes in bars and coins of various precious metals like Gold, Silver and Platinum.
As it facilitates investment in precious metals, RSBL strives to integrate our technical and market experience with a proper equation of hard work and dedication to provide our clients the ability to make good investment decisions.

RSBL is proud of holding the largest variety of bullions and coins across India. Our commitment to excellence in customer service and welfare is evident in all aspects of our business and we believe in spreading our horizons in coming years. RSBL's success is based on customer trust and respect backed by our highly valued staff and best quality products with the newly updated trading mechanisms.

RSBL's dedication to continuous improvements enables us to meet the demanding requirements of our customers. This bond of trust has helped RSBL to reach to the point where it is right now.

Riddhi Siddhi Bullion Limited (RSBL) has been ranked amongst the top 10 unlisted public companies in India by Business Standard 1000 several times. It is also one of the largest delivery participants across most of Indian commodity exchanges and is also been awarded STAR TRADING House status under the EXIM policy of Ministry of Commerce, Government of India. Riddhi Siddhi Bullion Limited (RSBL) is one of the only ten nominated agencies for import of bullion in India and also one of the few selected Indian companies to associate with the London Bullion Market Association (LBMA) and Bombay Bullion Association (BBA). RSBL holds reputation in LBMA's good delivery members, international suppliers and banks.

RSBL is an 'Authorised Participant' (AP) with all the Gold Exchange Traded Funds (ETFs) in India and also ensures fluidity in each of them. It is also the largest creator and redeemer of such Gold ETF units in the country.
Riddhi Siddhi Bullion Limited (RSBL) has received the prestigious 'EPCES Export Awards' for outstanding export performance during the year 2009-10 from the Category-II Product Specific SEZ - Other than MSME in the category Gems & Jewellery.

RSBL's 'Optionally Convertible Debentures (OCDs)' is another innovative product, which takes advantage of the price differences between gold spot/forward and futures prices of the commodity. The product has been a great success and besides capital protection, has consistently provided the investors with a return of over 15% per annum since its launch in 2007.
In 2009, RSBL was also nominated by CNBC TV 18 for 'Emerging India Awards' Awards' in two categories: e-commerce and jewellery.