Terms & Conditions

hese “terms” and “Conditions of Use” (“Terms”) constitute an electronic record within the meaning of the applicable laws. This electronic record is generated by a computer system and does not require any physical or digital signatures. These Terms shall be in addition to and not in derogation to any other terms as stipulated from time to time. By using this facility on the Paytm Platform, You are agreeing to and accept these Terms. 1. In these Terms, references to “You”, or “Customer” shall mean the counterparty who transacts using the SMART DIGIPAY “Platform”, being a natural person, buying Gold, redeeming Gold in the form of redeemable products, selling back Gold to MMTC-PAMP . “Platform” shall mean, and include, the platforms (website, mobile apps, others) of One97 Communications, that the Customer accesses for the transactions, including all contents, services and technology offered through the Platform. “Service Providers” mean independent third party service providers, and references to the “Seller”, “MMTC-PAMP”, “we”, “us” and “our” shall mean MMTC-PAMP India Private Limited. . “Transfer” refers to a facility to transfer Gold from a gold account to gold account of another Customer(s). 2. We reserve the right to change these Terms at any time. Such changes will be effective when posted on the Platform and shall be deemed to be notified to the Customer accordingly. Notwithstanding anything contrary, Customer shall be responsible for regularly reviewing the Terms, including amendments thereto as may be posted on the Platform and shall be deemed to have accepted the amended Terms by continuing the use of Platform. 3. MMTC-PAMP/ One97 shall be entitled to collect and store relevant information and documents provided by the Customer, For cumulative lifetime purchases of Rs. 50,000/- and above and subsequently from time to time. Further, as and when required by MMTC-PAMP / One97, the Customer will be required to provide additional documents for fulfilling the KYC requirements. You authorize MMTC-PAMP and One97 to make such enquiries as they may feel necessary to satisfy themselves about the validity of Your identity. You undertake to update us and One97 in case of change of Your existing information or verification documents provided by You. 4. You shall be responsible for the correctness of information to MMTC-PAMP / One97 from time to time. If You have reasons to believe that there is an error in the information furnished to MMTC-PAMP / One97 You shall immediately advice the MMTC-PAMP / One 97 in writing and forthwith provide correct / updated information. 5. We reserve the right to terminate any Gold account, with or without notice to You, in the event the KYC documents / information are found to be incorrect or authenticity of the documents / information is found to be doubtful. You hereby undertake to indemnify and keep indemnified MMTC-PAMP and One97 against any and all losses, claims, liabilities costs etc. which arise out of or relating to Your failure to identify Yourself and validate Your account promptly and / or due to incorrect KYC documents / information. 6. You can offer to buy Gold worth Rs. 1.00 (Rupee One Only) and above incremental value thereof at the live purchase price of Gold of 999.9 purity displayed on the Platform. 7. Payment will be accepted only through Your Paytm wallet or other payment options made available on the Platform. At the time of purchase / redemption / sale-back / transfer of Gold, the relevant taxes will be chargeable as applicable as per the Government regulations. 8. At the time of redemption, the Customer can select redeemable product for redemption from catalogue of redeemable products. These redeemable products will be hosted on the Platform. The list of redeemable products may be altered, changed and amended by MMTC-PAMP from time to time at its sole discretion. 9. At the time of redemption in physical deliverable product form, the Customer will pay additional manufacturing and delivery charges and applicable taxes on the same. The redeemable product selected from the catalogue for delivery shall be subject to availability of stock with the MMTC-PAMP. 10. For each confirmed purchase of Gold by the Customer , MMTC-PAMP India will be the custodian of the metal, till (a)) sell-back by the Customer, (b) redemption by the Customer, or (c) expiry of Custody Period,. For the purpose of this clause, ‘Custody Period’ shall mean a period of 5 years from each separate purchase f Gold by the Customer. The Gold purchased by You or transferred to Your Gold account will be allocated and stored in a highly advanced and secured vault of MMTC-PAMP, with full insurance cover. If You redeem Your gold after the Custody Period, additional charges will be levied. 11. The Customer will have the option of redeeming and asking for physical delivery of the full or part of the accumulated gold holding, in the form of redeemable products starting from 1 (One) gm and above. The residual fractional gold remaining, upon redemption / Transfer by You of the entire gold holding, can be sold back by You to us at the live sell-back price of gold of 999.9 purity and the corresponding amount against the residual fractional gold sold by You will be credited in Your Paytm wallet instantly. 12. The Customer cannot buy and redeem Gold on the same day. 13. You need to pay the applicable making and delivery charges from Your Paytm wallet or other payment instruments made available on the Platform in order to redeem the redeemable product of Your choice. 14. Once the redemption has been initiated by You and payment received then Your gold grams will be debited accordingly from Your Gold account. 15. MMTC-PAMP may also, from time to time in future, offer/permit the Customer to sell-back its gold in fraction to MMTC-PAMP at prevailing live sell-back price of gold of 999.9 purity, during the offer period as may be announced / permitted by MMTC-PAMP. The money against the fractional gold sold by a Customer would be credited to the customer. 16. Live purchase price of Gold will be displayed on the Platform and is subject to change from time to time. At the time You make request for redemption / sell-back, the value of Gold / quantity of Gold to be redeemed / sold back will be displayed based on live sell-back price of Gold. The live purchase price of Gold and live sell-back price of Gold may vary and also may be be different from that available in the open market and/or in any other retail outlet. Your offer may be rejected irrespective of whether an item has been earmarked/wish listed by a Customer. In such an event if You still wish to offer to purchase Gold or sell-back residual fractional Gold, You may make another offer at the changed price. MMTC-PAMP disclaims any and all claims and/or liabilities arising from such non acceptance of offer or revision in prices. 17. While availing any of the payment method/s available on the Platform, MMTC-PAMP/One97 will not be responsible or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to the Customer due to:

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