What is the new Platform launched by Airtel for digital Gold Investment

Alan Joseph Alan Joseph
May 17, 2021 4 min read
What is the new Platform launched by Airtel for digital Gold Investment

Gold has been a store of value for more than 3000 years which is much more than any currency in the entire world. In India Gold is considered to be the best and the most favourite investment and that makes India the largest importer of Gold.

There are a lot of platforms that provide digital gold services for its customers such as Paytm, Google Pay, PhonePe, etc. Recently Airtel Payments Bank has announced that it will let its customers invest in digital gold. Let’s look at the details of the digital Gold Investment offered by Airtel Payments Bank.

DigiGold
Other features of the platform
Airtel Executive
About SafeGold
About Airtel Payments Bank
FAQ

DigiGold

On 13 May 2021, Airtel Payments Bank had announced a new feature that will let the users invest in Digital Gold. They have launched a digital platform called DigiGold for its customers to make an investment in digital gold.

The DigiGold feature has been launched by the company with a provider of Digital Gold in India called SafeGold. The feature allows the customers of Airtel Payments Bank to invest in 24k gold using the Airtel Thanks App.

Other features of the platform

The company conveyed in a statement that using DigiGold the customers can also gift the digital gold to their families and friends who have a savings account with Airtel Payments Bank. They added saying that there is no minimum investment required for the app.

The Gold that is purchased by the customers will be stored safely in a vault by SafeGold with no additional cost. The purchased gold can be sold through the Airtel Thanks app whenever required by just a few clicks.


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Annual demand volume of gold in India
Annual demand volume of gold in India

Airtel Executive

The Chief Operating Officer of Airtel Payments Bank, Ganesh Ananthanarayanan has said that DigiGold is the most recent addition to the company’s neo banking position of value-driven products that are secure and simple.

He added that Airtel Payments Bank customers can now easily invest in gold easily through the app. The company also has plans to introduce Systematic Investment Plans which will enable the customers to invest regularly.

About SafeGold

The managing director of SafeGold, Gaurav Mathur has conveyed that Gold is a part of almost every Indian’s investment portfolio. It is of vital importance for the ecosystem to invest in areas that will help every citizen to buy and sell digital gold.

He added saying that Gold has seen an increase in the value over the past few years as an instrument for savings and added that they are proud to have partnered with Airtel Payments Bank to offer a range of products related to digital Gold.

SafeGold offers 24K gold ensuring customer international quality standards. The statement added that Digital Gold is combined with the convenience and speed of the internet with the safety of the SEBI registered Trustee. The statement has conveyed that it provides more security than traditional gold purchases.


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About Airtel Payments Bank

Airtel Payments Bank is an Indian based payment bank. It was founded in the year 2017 and has its headquarters in New Delhi, India. Airtel Payments Bank is a subsidiary of Bharti Airtel and the first company to receive a payments bank license in the country from RBI.

The Payments bank had recently increased its savings bank deposit account limit to INR 2 lakhs according to the guidelines of RBI. The company has also increased the interest rate of the savings account holders between 1-2 lakhs to a rate of 6%.

FAQ

Is Airtel payment bank a bank?

Airtel Payments Bank is an Indian payments bank with 80:20 partnership between Bharti Airtel and Kotak Mahindra Bank.

Who is the CEO of Airtel payment bank?

Anubrata Biswas is the CEO of Airtel payment bank.

Which payment bank is best?

Indian Post Payment Bank (IIPB) is one of the top payment bank backed by India's post offices. You can also open a zero balance saving account.

Conclusion

The Pandemic has let the investors opt for a digital way to invest in Gold and the digital Gold investment has been increasing significantly and becoming much more popular over the years.

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