Golden time for digital India


ONLINE PAYMENT POPULARITY SOARS AMONG CUSTOMERS INVESTING IN PRECIOUS METAL A DIGITAL revolution is reshaping India’s $34 bil­lion (£24bn) gold market, with smartphones, e-wallets and flexible investment schemes drawing new buyers into a business dominated by tradi­tional, face-to-face transactions. Digital payment systems have ballooned in popu­larity in India since the government scrapped large-value bank notes in 2016. Among these offerings are applications that ena­ble smartphone users to buy, sell or store gold – even in small amounts. It is kept in secured vaults oper­ated by MMTC-PAMP India Pvt Ltd, a joint venture between MMTC Ltd, the largest national trading firm,…

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