CURRENT AFFAIRS

Detailed explanation-1: -India got its first Gold ATM in Hyderabad that delivers gold coins. This ATM is the brainchild of Hyderabad-based Goldsikka Pvt Ltd, which aims to expand it throughout India.

Detailed explanation-2: -The Gold ATM dispenser is set up in Hyderabad by GoldSikka. It dispenses gold coins weighing between anywhere between 0.5 and 100 grams.

Detailed explanation-3: -In 2010, the world’s first gold ATM was opened in the lobby of the Emirates Palace Hotel in Abu Dhabi. People could withdraw gold coins From this ATM. Today there are many such ATMs in Dubai, from which gold bars ie gold biscuits and gold coins can also be withdrawn.

Detailed explanation-4: -Goldsikka with technology support from Hyderabad-based startup, Opencube Technologies has launched its first Gold ATM at Begumpet and described it India’s first Gold ATM and world’s first Real Time Gold ATM.

Detailed explanation-5: -The first real-time gold ATM is installed at Goldsikka’s head office in Hyderabad’s Begumpet. Goldsikka said that since gold rates are constantly fluctuating, it is difficult to get a hang of it. Its aim, it said, was to provide gold at the lowest possible price and more accessible to a varied audience.