First real time Gold ATM launched in Hyderabad

[Shiv Verma]

Goldsikka Pvt Ltd launched its first Gold ATM with Technology support from M/s OpenCube Technologies Pvt Ltd, a Hyderabad-based startup company on 3rd December. This is India's first and the world's first real-time Gold ATM.

The Goldsikka ATM dispenses Gold coins. People can insert their debit or credit cards into the Goldsikka ATM and buy gold coins.

Hyderabad gets India's first real-time Gold ATM

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.

m.economictimes.com

 

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Most probably this would be failure for country like India where gold is bought on most auspicious occasions. Untill unless some company like RIL takes stakes in it and give good amount of discount or cashback vouchers.
But, I do appreciate the effort of these kind of start-up, nice initiative by company. May be they have past experience of gold market to start this venture.

They said can use Credit Card as well but does credit card will charge as per ATM transection or POS Machine?

 

[rohitvatsa]

Would it fulfill the wishes of our great leader who once said "Idhar se aaloo daalo udhar se Sona niklega "

 

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Would it fulfill the wishes of our great leader who once said "Idhar se aaloo daalo udhar se Sona niklega "

Better you invest in Potato stocks and see your chips making company grow and buy gold from that.