The Gitanjali Group, the world’s largest branded diamond jewellery manufacturer, has launched ATM machines which dispense gold and diamond medallions, coins and jewellery in India.
The Indian company said the ATMs, which will offer upto 36 options in sizes, price points and designs will be “ideally suited for last minute purchases on auspicious occasions and for gifting”.
Gitanjali Export Corporation CEO Sanjeev Agarwal said the machine is a first of its kind anywhere in the world and will further revolutionise the processes by which precious metals and jewellery are bought.
“It has a particular significance in India, where usually such items are purchased as tokens to observe traditions on auspicious days,” he said. “But it also offers choices for occasions like Valentine’s Day, or to a husband who forgot an anniversary or his wife’s birthday”.
Gitanjali plans to install the ATMs in places with high consumer foot traffic such as shopping malls, airports and temples “to provide visitors with a range of last minute purchase choices”.