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Google Pay users can buy gold through app

IANS  |  New Delhi 

Aiming to make Pay more useful for Indian users, on Thursday announced its partnership with MMTC-for buying and selling gold through the application.

MMTC-Pvt. Ltd is an internationally recognised and service provider.

"Pay users would be able to buy 99.99 per cent, 24 karat gold after this partnership with India's only LBMA accredited gold refinery," the company said in a statement.

With this, Google Pay users can purchase gold for any value that will be stored in secure vaults on their behalf by MMTC- The users can buy and sell the gold any time at the latest price, refreshed every few minutes, as displayed on the Google Pay app.

"Gold is core to Indian culture and tradition, making the world's second largest consumer of gold. Keeping this in mind, we introduced gold buying and selling feature on Google Pay for millions of Indians who can buy gold right from their mobile phones," said Ambarish Kenghe, Director-Product Management, Google Pay, India.

The announcement came as the on Wednesday asked the (RBI) and to file a reply on a plea alleging Google Pay not being listed as an authorised operator as per a list of the 'Payment System Operators'.

A division bench of and Justice issued notice to the RBI and on a PIL filed by

The petitioner has sought direction to the RBI to stop Google Pay operation in India.



(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 11 2019. 19:30 IST