All of us are well aware of the fact that ATM machines are used to withdraw cash. However, In what is India's first gold ATM, people can insert their debit or credit cards into the machine and buy gold coins, as reported by news agency ANI. This is the first real-time gold ATM in India.
The machine is known as Goldsikka ATM and has a capacity of storing five kilograms of gold and eight options for the quantity of gold starting from 0.5 grams to 100 grams. On December 3, Hyderabad-based startup OpenCube Technologies Pvt Ltd provided technology support for Goldsikka Pvt Ltd's launch of its first gold ATM.
The Vice President of Goldsikka, Pratap, told ANI, "Each ATM has a capacity of holding upto 5 kilograms of gold which is worth around Rs 2-3 crores. The ATM machine dispenses coins ranging from 0.5 grams to 100 grams. There are 8 available options, including 0.5 grams, 1 gram, 2 grams, 5 grams, 10 grams, 20 grams, 50 grams and 100 grams. People can come here and get the coins directly instead of going to jewellery shops."
Furthermore, he said that these coins are 24-carat gold and 999 certified. The customers will get their investment returns at a live price without any wastage.
He added that the prices of gold are updated live in this ATM. The Vice President continued, "We take the London bullion market as our market year. The prices there are updated and displayed on the screen and so are the taxes. Today, we had a footfall of around 20 people till the afternoon. We are hoping that more people would use this."
On the safety front, the ATM includes a built-in camera and sound alarm system. Mr Pratap continued, "We have already taken care of the required security measures as other ATMs. The ATM has a built-in camera and sound alarm system, which will trigger if there someone tries to tamper with it. We have three external CCTV cameras and we are also getting tied up with local police stations."
Also Read: ATM In Maharashtra Dispenses 5 Times Extra Cash, Locals Rush In After News
It was also informed that in case of a transaction failure, if the amount is debited and gold is not dispensed, then the customer will get back the money within 24 hours. "We also have dedicated customer support for any queries," he added.
Featured Video Of The Day
"As A Telugu Speaker...": SRH Star Nitish Reddy Becomes First-Ever Player From Andhra Pradesh To Be Retained In IPL From Virat Kohli To Heinrich Klaasen: 10 Stars With Highest Retention Amount Ahead Of IPL 2025 IPL 2025 Retentions: Complete List Of Retained Players, Their Price, Remaining Purses Of All 10 Franchises Walmart Employee's Big Claim After Indian-Origin Teen Found Dead In Oven Who Was Gursimran Kaur, Indian Teen Found Dead In Walmart Oven 1 Dead, 6 Injured In Diwali 'Onion Bomb' Tragedy In Andhra Pradesh North Korea Says It Test-Fired Latest ICBM Hwasong-19 On Thursday Ex-Armyman Opens Fire At Man Over Parking Dispute In Pune; Arrested US Elections: 60 Million Cast Early Votes In Kamala Harris-Trump Tight Race Track Latest News Live on NDTV.com and get news updates from India and around the world.