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MUMBAI(Scrap Monster): India's 125-year-old non-banking financial giant, the Muthoot group launches 'Muthoot Group Apps' for Apple and Andriod phones and tablets users. This will enable the consumers to purchase gold and silver coins apart from the group's daily blasting of investment reports to its investors, among other things.

The app also features investment tips, stock exchange reports, share trading, travel packages and direction to the nearest Muthoot branch.

Convenience is the most important criteria in the present scenario wherein the customer can book and/or buy from the comforts of his and her home and get over the delivery hassles and billing counter according to George Alexander Muthoot, Muthoot Group managing director.

Making the mobile application market a major growth area for developers, nearly 15 million mobile subscribers are added monthly in India alone . India has 2.5 lakh app developers according to the estimates of the company. In the coming years, the sale of gold and silver coins through internet will become as popular as internet banking and online travel and tour booking.

In India about 100 million applications are being downloaded monthly and India's global app market is forecast to hit US$17.5 billion by end 2012 from US$4.1 billion in 2009 according to studies held in Mobile Apps Summit 2012 .

There are about 47 million users in India who have internet access capable mobiles and the smart phone users in India spend on an average 157 minutes on their smartphones in a single day which are all favourable for the internet/mobile banking in India to boom to unprecedented levels sooner.

Mr Muthoot also added that, Brick and mortar branches will always remain our main channel for extending our products and services to the customers. However, with the advent of new technologies, the number of consumers using mobile devices to browse and purchase have increased over a period of time and we, as a progressive organisation are always looking out for innovative means to provide greater customer convenience.

India is expected to have 237 million internet-activated mobile connections by 2015, as a result of which entrepreneurs are focusing more on mobile apps which are internet-dependent, rather than SMS-based.