AUGMONT BRAND has appointed IDBI TRUSTEE as their facilitator to ensure that the amount Digital Gold SOLD and Physical Gold DEPOSITED in the Vault are in Reconciliation and Verified.
IDBI TRUSTEESHIP SERVICES LIMITED [IDBITSL]
IDBI Trusteeship Services Limited (ITSL) is India’s Leading Trusteeship Company. The company is jointly promoted by IDBI Bank Ltd., LIC of India, and GIC of India, and provides a wide spectrum of Trusteeship Services.
GOLD TRUSTEESHIP
- Pursuant to the execution of GSTA (Gold Security Trusteeship Agreement), the platform is required to create all securities i.e. Gold / Silver / Platinum in favor of Trustee. Trustee holds a charge for the benefit of the customer.
Key Benefits to Customers and Platform are:
- Since Trustee has no financial relations with other players in the chain, it has no conflict of interest in discharging the role as security Trustee.
- Trustee coordinates with the platform and all other agencies like a safe-keeper involved in the chain.
- Enforcement of the security when required and disbursement of the sale proceeds without prejudice.
- Ideal for platforms engaging digital platform for the sale of Gold to Customers.
- Trustee ensures protection of customers’ interest.
