Gold, Diamond ATM Launches in Mumbai

By Enjoli Francis

Oct 25, 2011 1:31pm
ht atm gold diamonds nt 111025 wblog Gold, Diamond ATM Launches in Mumbai

Image credit: Gitanjali Group

Men (and women) who find themselves sans gift on a loved one’s birthday or Valentine’s Day won’t have to settle any longer for the old flowers-and-a-card bit, thanks to the Indian jewelry retailer Gitanjali.

On Sunday, the group introduced the world’s first gold and diamond automated teller machine in Mumbai, India.

With a swipe of a credit or debit card or cash, customers can purchase not only gold and silver bars but also coins, religious pendants and diamond jewelry. The prices range from $20 to around $650 on 36 different options.

Sanjeev Agarwal, CEO of Gitanjali Export Corp., said in a statement that the ATM “will further revolutionize the processes by which precious metals and jewelry is bought.”

Gitanjali reportedly plans to place about 75 ATMs in malls, airports and temples.

 

 

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