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02:03
ATM that dispenses Gold instead of cash launched in Hyderabad
The Hyderabad-based company, Goldsikka Limited, on December 3 opened a real-time gold ATM in Hyderabad's Begumpet, allowing customers to buy gold without going to any Jewellery stores.The prices are displayed live on the screen making it transparent and clear for the customers and the coins are dispensed in tamper-proof packs certified with 999 purity. All of the gold currency dispensed by the gold ATM is 24-carat, regarded as the purest type of gold.
The ATM has a capacity of storing 5kgs of gold. There are 8 available options for the quantity of gold starting from 0.5 grams to 100 grams. Customers can use their debit or credit card to buy gold coins of different denominations.
The company has plans to install over 3,000 machines all over India in the coming two years.
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