If you are in Hyderabad, you can buy gold from an ATM machine. 

The credit for setting up India’s first gold ATM goes to Goldkikka Pvt Ltd, a Hyderabad-based company set up four years back. 

Buyers can insert their debit or credit cards into the Goldsikka and buy gold coins from the dispensing machine.

The ATM has a capacity of storing 5 kg of gold, worth around Rs 2-3 crore. There are eight available options for the quantity of gold, starting from 0.5 grams to 100 grams. The other slabs are 1 gram, 2 grams, 5 grams, 10 grams, 20 grams and 50 grams.

The coins are 24-carat gold and 999 certified. "We proudly announce that we have successfully launched Gold ATM and, through this achievement, we unleash the unstoppable journey to make Bharat Sone ki Chidiya phir se, and contribute to the mission of Bangaru Telangana," the firm said in a Twitter post.

The gold prices are updated live. The customers will get their investment returns at a live price. 

For safety, the ATM has a built-in camera and sound alarm system, which will trigger if someone tries to tamper with it. There are three external CCTV cameras.

Goldsikka Pvt Ltd, which is into bullion trading, plans to roll out the next four ATMs in Hyderabad at the airport, old city, Ameerpet and Kukatpally. 

The intent is to initially focus on Telangana and then move to South India.

The company has got technology support from OpenCube Technologies Pvt Ltd, a Hyderabad-based startup.