Live Markets »News & Advice»Market News»Market News Details
Market News Details

Motilal Oswal partners with MMTC Pamp to offer digital gold

Dilip Kumar Jha/Mumbai 13 Oct 17 | 01:15 AM

Motilal Oswal Financial Services (MOSL) has introduced ‘Me-Gold’, a digital form of gold trading for individuals.

It has done so in partnership with MMTC-Pamp, the country’s only gold refiner which is approved by the London Bullion Market Association. There will be an option for physical delivery. Last year, Paytm, a digital wallet and now a payments bank, had introduced gold coins in partnership with MMTC-Pamp.

Related Stories

    No Related Stories Found
Widgets Magazine

Me-gold facilitates trading in gold in rupee and grammage denominations, at a price determined by the global markets. Customers can buy and sell gold through a mobile application. “Our 900,000 current clients can instantly start buying quality gold, for future consumption either for their children’s wedding or saving to accumulate for larger purchases for gold ornaments or just for saving in the form of gold. The product satisfies all the qualities of physical gold and provides the convenience of e-commerce," said Motilal Oswal, chairman.

While customers would trade in the electronic form, MMTC Pamp, the supplier of gold, would store this in its vaults till the traders seek delivery. After payment of the charges and applicable taxes, MMTC Pamp would facilitate the delivery in the form of coin, the minimum denomination being a gm.

“Customers will have a choice to transfer their gold units to buy ornaments directly from our empanelled jewellers, without taking delivery of coins and melting it to convert into jewellery," said Kishore Narne, commodities head at MOSL.

Widgets Magazine


Company Price Gain (%)
Tata Steel658.001.50
Yes Bank316.801.34
HDFC Bank1,898.001.24
Coal India307.500.94


Will Arun Jaitey recast tax slabs for individuals in Budget 2018?

Online Portfolio

You can create Online Portfolio here using the below button.

Widgets Magazine