First Published Dec 6, 2022, 12:41 PM IST
Only cash is coming into the ATM machine so far. But, for the first time, an ATM machine that dispenses gold coins instead of cash was installed in Hyderabad yesterday.
This could be the first ATM in the world apart from India to dispense gold coins.
Hyderabad-based startup OpenCube Technology has installed this gold coin-dispensing ATM machine.
Muslim village boycotts Gujarat elections: Officials deny
According to this, people can purchase gold coins up to 5 kg through their debit and credit cards at this ATM machine. Gold coins also come in 0.5 gram, 10 gram and 100 gram gold coins.
Pradeep, Vice President of Goldciga said, “Our company has been involved in commodity marketing since the last 4 years. Our CEO thought of introducing a gold coin dispensing scheme through ATMs and we implemented it. For this we tied up with a startup called OpenCube and implemented it
Each ATM has a gold coin reserve of 5 kg, worth Rs 3 crore. ATMs accept currency from 0.5 gram to 100 gram. You can get coin in 0.5 gram, one gram, 2 gram, 5 gram, 10 gram, 20 gram, 50 gram, 100 gram. Instead of buying coins from a gold jeweler, you can buy gold coins from these ATMs. All these gold coins are 24 carat, 999 certified so no need to fear
The price of gold plummeted! Relieved to descend at high speed! Friday Fall! What is the situation?
Customers can get the full value of gold without any kind of shetram. Daily gold price is also available in this ATM so you can pay according to the daily market price. The cost of the gold coin, including taxes, must be paid. So far 20 people have bought the currency from this ATM.
Soon we are going to install 4 such ATMs in Hyderabad. Hyderabad Airport, Amarpeedam, Kukatpally, Karimnagar and Warangal are also to be established. Similarly, we are going to set up 3 thousand ATMs across the country.
This ATM machine has a camera and alarm for security. If someone tries to tamper with the ATM machine, it will raise an alarm, take a photo, and the software in it will send the information to the nearest police station.
If the money is withdrawn and the gold coin is not received, the money will be credited to the customer’s account in the next 24 hours. We have set up a separate customer service center for this purpose
He said this
Last Updated Dec 6, 2022, 12:41 PM IST