The Telangana capital city Hyderabad is doing wonders in many fields. Be it welcoming big flyovers to ease traffic issues or inviting big multinational corporations (MNC)s. The IT hub in the city which already has a bunch of big firms is seeing new companies at regular intervals.

Now pearl city added another feather to its cap by welcoming a gold ATM which is the first in the country. It is said that the ATM was set up in Begumpet, one of the busiest places in the city. Not just that the ATM already started its operations.

The gold ATM was set up at the Raghupathi Chambers in Begumpet and was inaugurated by Telangana women commission chairperson Sunitha Lakshmareddy. People are feeling happy about the first gold ATM in the country.

Reports say that people can withdraw gold coins by using their debit cards and credit cards. There is no need to worry about the purity of the gold coins as a certificate confirming the weight and purity will be given to the customers who make the purchases.

Reports say that people can buy gold coins with a minimum weight of 0.5 grams and the maximum weight of the gold coins can go up to 100 grams.

The officials shared their happiness with the country’s first gold ATM coming to Begumpet and assured the people that there is nothing to worry about the safety as anyone can buy the coins. They also said that the ATM will work round the clock.

Gold is a good investment for people. Bank customers try to buy gold from the bank as an investment to eat the fruits of it. With the gold ATM coming into existence they can buy the gold from there. Moreover, they will also receive certificates confirming their purity and weight.

However, there is no information on whether there is any grievance cell for this. The information on what to do and whom to complain to if they have any issues is yet to be known. Now it is said that the authorities are in plans to bring a few more ATMs to various locations.