In a landmark initiative, Tumkur Merchants Credit Cooperative Society (TMCC) has become the first cooperative in India to install a Gold Coin ATM.
The innovative ATM, branded as “TMCC Goldsikka”, has been installed at the society’s M.G. Road branch in Tumkur last week, offering customers the ability to purchase gold coins in denominations of 0.5, 1, 2, 5, and 10 grams (24-carat) at real-time online rates.
The groundbreaking initiative was inaugurated by Karnataka Home Affairs Minister G. Parameshwara in the presence of the Society Chairman Jayakumar and other notable people.
The TMCC Goldsikka ATM supports multiple payment options, including debit cards, credit cards, and QR codes, ensuring a convenient and seamless experience for customers looking to invest in gold.
This innovative move sets a new precedent for cooperative societies and transforms the way people access gold investments in India.
It has been reported that the Society is also planning to provide silver coins and small ornaments through the ATM machine within the next couple of months.
By introducing this first-of-its-kind ATM, Tumkur Merchants Credit Cooperative Society reinforces its commitment to innovation and customer-centric services, heralding a new era for financial cooperatives in the country.