- विज्ञापन -
New Delhi: A pioneering Gold ATM in Shanghai allows users to insert gold items, which are then evaluated for purity, melted, and the value credited to their bank accounts within 30 minutes. This innovation has garnered attention fir its efficiency and transparency in gold transactions. As the innovation gains global attention, experts believe such technology could disrupt India’s traditional gold lending and pawnbroking system.
How it Works:
♦Customers deposit gold jewellery into the ATM
♦The machine checks the purity, melts the gold, and calculates its value based on real-time market rates.
♦The corresponding amount is instantly credited to the customer’s bank account.
♦This process cuts out the age-old practice of pledging gold to local lenders, often at unfair terms.
A warning for traditional lenders:
Local moneylenders and traditional gold finance businesses could face a major shakeup. These institutions often charge high interest rates, apply opaque evaluation methods, and keep customers tied in the cycles of debt. The advent of Gold ATMs promises to empower customers by offering:
♦Real-time market value.
♦Zero negotiation hassles
♦No hidden charges
♦Complete transaction transparency.
