India is the world's second-biggest consumer of the precious metal, although most of the retail purchases are made offline.
Motilal Oswal Securities Ltd., a subsidiary of MOFS, will allow consumers to purchase gold on its digital platform. It will be stored in the vaults of MMTC-PAMP, the companies said in a statement.
The country imports about 800 tonnes of gold every year as most Indians prefer to invest in the traditional safe-haven asset, using it to hedge against inflation and as gifts at special occasions.
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