The Muthoot group, India's 125-year-old non-banking financial giant, has launched a 'Muthoot Group Apps' for Apple and Andriod phones and tablets users that enables the consumers to purchase gold and silver coins.

This is apart from the group's daily blasting of investment reports to its investors, among other things.

"In the present scenario, 'convenience' is the most important criteria 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," said George Alexander Muthoot, Muthoot Group managing director.

"We believe that in the coming years, the sale of gold and silver coins via internet will become as popular as internet banking and online travel and tour booking."

Mr Muthoot said nearly 15 million mobile subscribers are added monthly in India alone, making the mobile application market a major growth area for developers. Mr Muthoot estimates India has 2.5 lakh app developers.

According to a recent study released in Bangalore during the Mobile Apps Summit 2012, there are 100 million applications being downloaded in India monthly. India's global app market is forecast to hit US$17.5 billion by end 2012 from US$4.1 billion in 2009.

"India's internet access capable mobile population has already touched 47 million users. A recent research said that smartphone users in India spend on an average 157 minutes on their smartphones in a single day," Vineet Bajpai, Founder and Group CEO of digital agency Magnon Solutions, said.

"While there are some usability restrictions on mobile devices due to smaller screen sizes, we expect internet/mobile banking in India to boom to unprecedented levels sooner than later," Bajpai added.

"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," Mr Muthoot said.