Hyderabad: A company in Hyderabad called Goldsikka Private Limited will be launching Gold ATMs as a first-of-its-kind venture in the country. Speaking at a conference for the curtain-raising of this venture, the CEO of Goldsikka, Syedar Taraz assured that the Gold ATMs will be available in three places in Hyderabad soon. "We aim at making access to gold as simple as access to other everyday commodities for a common man," he said while introducing the concept.
In the meeting held in the main office of the company located in the Begumpet area in the city, Taraz clarified that the users will be allowed to withdraw gold coins weighing from 0.5 grams to 100 grams, while the everchanging price of gold would also be displayed on the ATM screen. "We will also make sure that quality and guarantee documents are legally issued. It will be just like any other ATM," he said, adding that he has teamed up with companies like Trunks Dataware and KL-Hi-Tech for its manufacturing and technology.
Further ensuring that all the gold coins will guarantee 99.99 percent purity, he explained that the coins could be withdrawn using debit and credit cards. "Currently, gold ATMs are available in Dubai at two places and five in the UK. In the next two months, Goldsikka will set up ATMs in Abids, Pan Bazaar, and Ghansi Bazaar areas in Hyderabad. In the long term, we hope to set up around 3000 ATMs across the country," Taraz said.
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