This Automated Teller Machine (ATM) is different from other ATMs . Not cash, but this one dispenses gold coins. India’s first Real-time Gold ATM has been launched in Hyderabad. In which people can insert their Debit and Credit cards into the Goldsikka ATM and buy gold coins. 

 

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.

 

The Vice President of Goldsikka, Pratap, told “Each ATM has a capacity of holding up to 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. These coins are 24-carat gold and 999 certified.”

 

He also stated that “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.”

 

(ANI)