The Golden Path of Investment

Mahendra Luniya CEO, Vighnaharta Gold Ltd.

The love and affection of Indian women towards ‘Gold’ and ‘Gold ornaments’ is well-known. The traditional outlook towards ‘gold’ is an asset for the future while for many others, it is a dead investment. But with ‘Vighnaharta Gold’, the new age Indians, especially women, can look at this glittering yellow gold as money generating asset without any risk. It sounds unconventional, but actually a safe and beneficial way of investment. Meet Mr Mahendra Luniya of ‘Vighnaharta Gold’, who explains about his different ventures and schemes.

To begin with, Luniya reminds us that how once upon a time, India was known as ‘Sone ki Chidiya’ ( The Golden Bird). “I wish to bring that era back to India. It requires financial literacy and awareness about purchase and investment in gold rather than the traditional way of making gold ornaments,” he said adding that the customers can either be part of Vighnaharta Gold Deposit Scheme or can earn Vighnaharta Gold Points by becoming a member.

Vighnaharta Gold was established in December 2011. When asked about how and when it all began, Luniya recalled the early days in 2003. While working as a share broker, Luniya used to track gold. He used to check stock and watch the entire scenario of the stock market. He started observing and researching on how this market affects the entire economy of the country. “My conclusion was investment in gold is safe. Gold market is often a steady market and doesn’t fluctuate much. The chances of drop or hike in the gold-rates are very less. On the other hand, around 95% of common public invest in gold. Thus it is always in demand. Then I consulted with experts in different fields of economy. By 2008, having consulted financial and banking experts, I designed my own model of holding gold on exchange,” he explained.

He pointed out that the Multi Commodity Exchange (MCX) was introduced in India in 2004. MCX offers options trading in gold and futures trading in different commodities including the agricultural commodities. “I decided to play with the gold. When a customer books gold with me, I hold that amount of gold on MCX, thus locking the rate. Here, the customer purchases 100 gm gold for just Rs 1000 per 10 gm and remaining amount he pays on zero interest for 12, 24 or 36 months installments. The booking amount is used to hold gold on MCX and the remaining installments are converted into liquid funds. Vighnaharta earns the interest on it,” Luniya said. Thus only 4-5 percent amount is blocked. If the price of gold hikes in future, the customer can get the margin and if the market is low, the customer has to bear the equivalent loss, but the liquid amount and his gold are safe. Vighnaharta Gold earns 8 % profit on the installments.

This model proved to be beneficial for all because it has low operating cost. “Much before demonetization that is since 2011 I prefer only online transactions and no cash payment. It is safe and transparent. My website has payment gateways. In a way, different government schemes are beneficial to me,” he highlighted.

Besides bookings, Luniya’s unique scheme is ‘Vighnaharta Gold Deposit Scheme’. Explaining this scheme, Luniya said, “Under this scheme, we accept only pure gold coins or chips (No Gold ornaments) which are lying idle in many of Indian houses or bank lockers. It always poses a risk of theft to the gold-holder. Under this scheme, we accept gold and offer bank guarantee of the equivalent value through Nationalized Banks. We sell that gold to different jewelers. Five percent of the amount is invested in MCX for locking the rates, 45 % are kept at Nationalized Banks for guarantee, the interest on which is earned by the company and the remaining 50 % amount is converted into liquid funds.”

Thus, the customer becomes secure and risk free. He also earns 5 percent per annum in terms of quantity. And after three months he can take the delivery of his gold. Vighnaharta has tied up with nationalized banks that offer equal value to your gold.

Vighnaharta Gold also has designed an app called ‘V-Gold’. After completing the pilot project recently, the app is now operational. The registered members get ‘Vighnaharta Gold Points’ and reference points if they refer someone. Just after downloading the app, the member can earn ‘Reference e-Gold point’ equal to gold. “This scheme is for customer acquisition. Pay Rs 1000 and get membership for life time. The members get 15 to 75 % discount on making charges at various well known and branded jewelers in the city. The gold points can also be redeemed for shopping products other than gold, say for example while shopping for apparels. The members are provided a secure Login ID & password access to the website. Currently, Vighnaharta Gold has a 4,500 customers’ base and around 72 kg of gold booking. His target customers are the common people.

“All our schemes provide a win-win situation to jewelers, Banks and customers. It increases footfall at jewelers’ shops. Investment in God Booking helps the economy by liquidifying the gold and it holds back the consumers from going to the market for purchasing the gold. Thus all the money goes to banks, thus lowering down the Current Account deficit. Money gets circulated in the market through different developmental projects, businesses and generates employment. Ultimately, it helps increasing country’s GDP,” Luniya added.

According to Luniya, the country needs much awareness regarding different options of investment in gold. “As per the World Gold Council, 25,000 tons of gold is lying idle in the country, which is actually the black money. With such schemes, the official gold holding of the government can be increased and the economy can be boosted,” he recommended.

So associate with ‘Vighnaharta Gold’ that offers an opportunity to add a realistic approach to your emotional value towards ‘Gold’

www.vgold.co.in
vgoldltd@gmail.com