Unlike usual ATMs, Goldsikka ATM dispenses gold coins.
World's first gold ATM now operational in Hyderabad allows customers to buy gold using their debit and credit cards.
The ATM can store up to 5kg of gold in the form of gold coins of 8 different weight classes ranging from 0.5 to 100 grams.
Given the current price level of the yellow metal, a single Goldsikka ATM would hold about Rs 2 to 3 crores in gold.
The innovative machine is a result of a collaborative effort between jewellery maker Goldsikka and a Hyderabad-based start-up, OpenCube Technologies.