Me-Gold – Digital Gold with Physical Touch
Me-Gold, A new way to buy and accumulate gold with all the convenience of technology and still have the physical gold whenever one needs
Mumbai, 12 October 2017: : In-line with its focus towards best product innovation, leading broking house of the country, Motilal Oswal Securities Limited (MOSL) launched digital gold product named Me-Gold on its mobile and web platform in partnership with India’s only LBMA certified gold refinery MMTC-PAMP India Pvt. Ltd. The product provides access for high quality 999.9 (24Kt) pure gold purchased from MMTC-PAMP, to all customers irrespective of the size of their purchase. The product also offers the customers an option of buying gold in periodic tranches and accumulate in smaller units over a period of time. The gold can be stored at secure MMTC-PAMP vaults without any further cost and even asked to be delivered as coins or bars of 999.9 purity, at customer doorstep.
On the launch of Me-Gold, Mr. Motilal Oswal, CMD, MOSL explained its aptness to their retail clients “Our 900,000 current clients can instantly start buying quality gold, for their 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. We are very happy to partner with MMTC-PAMP, a world class refiner which is known for its quality of gold and strong processes”
Mr. Kishore Narne, Head of Commodities, explained its unique features “The product genuinely caters to the un-met needs of customers like getting pure gold at the convenience of buying from home in the quantity he/she likes to, with highest security and safety and all of it at a fair and transparent single price across the country which is updated 24X7, every second based on live international spot gold prices.”
Mr. Arjun Raychaudhuri, CMD, MMTC-PAMP said “As India's only internationally accredited gold refinery, we are proud to be placing India in its deserved position in the global bullion market. Our partnership with Motilal Oswal is a vital step in giving every Indian access to high quality, 24k 999.9 pure gold in a convenient and transparent manner.”
The Me-Gold product ticks every box for the consumer, as it provides easy access to the purest gold at their fingertips to buy whenever and whatever quantity they would like to purchase. The gold is purchased from MMTC-PAMP which is a joint venture of MMTC and PAMP a Swiss based refining company. MMTC-PAMP is the industry leader and is the only LBMA certified refiner in India, capable of producing “Good Delivery” bars accepted by Central Banks and Exchanges across the world.
The gold which is bought on Me-Gold is credited as grams on the Motilal Oswal mobile, MO Investor app as well as on MO Investor web platform and can be carried as digital gold without any charges. The customer can transfer or gift this gold to his near and dear or even sell back to MMTC-PAMP for an instant realization. Apart from this, the customer can request delivery for 1gm and above coins which would be delivered at customer address through authorized couriers safely and securely. The customer who intends to buy jewellery can also exchange the digital gold balance by walking in to any of the empaneled jewelers against their favourite piece of jewellery. Digital format eliminated the verification of purity by jeweler and security risks of carrying coins for exchange and fetches best price. We are signing up with some reputed jewelers like PC Jewellers, Senco Gold, Waman Hari Pethe Jewellers to name a few.
The process to start buying Me-Gold is very simple as the customer needs to download MO Investor app or go to MO Investor web platform and register himself through KYC form and he/she can buy gold in just three clicks from there.
About Motilal Oswal Financial Services Limited
Motilal Oswal Financial Services Ltd. is a financial services company. Its offerings include capital markets businesses (retail broking, institutional broking & investment banking), asset & wealth management (asset management, private equity & wealth management), housing finance & equity based treasury investments. Motilal Oswal Securities won the ‘Best Performing National Financial Advisor Equity Broker' award at the CNBC TV18 Financial Advisor Awards for the 5th time. It was ranked the Best in Events/Conferences, ranked amongst Top-2 for Overall Sales Services & Best Roadshows/Company Visits & amongst the Top-3 in Best Local Brokerage, Best Execution & Sales Trading Visits at the Asia Money Awards 2015. Motilal Oswal Private Equity won the ‘Best Growth Capital Investor-2012’ award at the Awards for PE Excellence 2013. Motilal Oswal Private Wealth Management won at the UTI-MF CNBC Financial Advisor Award in HNI Wealth Management category for 2015. Aspire Housing Finance was awarded ‘India’s Most Admired & Valuable Housing Finance Company’ at India Leadership Conclave 2015.
About MMTC-PAMP India Pvt. Ltd
MMTC-PAMP, is a joint venture between PAMP SA, Switzerland, a global leader in precious metals, and MMTC Ltd., a Government of India undertaking. MMTC-PAMP is known across the industry for the finest products in India, combining the Swiss quality with Indian heritage to create world class precious metal products. MMTC-PAMP has been awarded every award for highest performing refinery from every industry body in India four years in a row. The company is also India's first and only refinery accredited by London Bullion Market Association (LBMA) as Good Delivery for?Gold and Silver, which means that all the products undergo the most rigorous weight and purity testing meeting the highest global standards.
For more information please contact:
Rohini Kute
Head - Corporate Communications, MOFSL
Ph: +91 22 3010 2340 / +91 98201 96838
Paradigm Shift Public Relations
Alpesh Nakrani / Banali Mukherjee
Ph: +91 22 2281 3797 / 98
Mob: +91 98691 21167 / +91 97696 10385