"The gold ATMs will make the precious metal available to the common man on the street like currency notes from any ATM."
Hyderabad: Now buying gold would be as easy as withdrawing money from any automatic teller machine (ATM).
The launch of India’s first gold ATM has been announced by Goldsikka Ltd, a digital platform that allows buying and selling gold. Physical gold can be bought instantly through these gold ATMs by using all credit and debit cards. Pre-paid and post-paid smart cards will be provided for the purpose.
Goldsikka Ltd has entered into an agreement with Trunix Dataware LLP, a Chennai based firm, which provides software solutions for diverse financial and banking requirements and KL Hi-Tech Secure Print Ltd, which provides secure print products and smart solutions to many banks globally.
Sy Taruj, CEO and Promoter of Goldsikka Ltd said, “Goldsikka aims to give the gold at most competitive price in the market. The gold rates will be changing according to real time live prices. The gold ATMs will make the precious metal available to the common man on the street like currency notes from any ATM. We will install three prototype ATMs at Gulzar House, Secunderabad and Abids within 40 days.” Hans India reported.
3,000 gold ATMs will be established by the company across India within one year. Each machine will be having 5 kg gold. 0.5 gram to 100 gram gold with quality, BIS certification and hallmarks will be dispensed by the machine.