New Delhi, April 22 -- Chairman of RPG Group Harsh Goenka praised the concept of gold ATMs introduced in China's Shanghai, a non-traditional method where people can sell their gold instantly without the involvement of gold lenders.

In a post on X, Goenka highlighted how these ATMs work and wrote," Drop your jewellery, it checks purity, melts it, calculates value, and credits your account instantly."

Calling these ATMs transparent and free of exploitation, he further noted that this technology may become a threat to gold lenders in India.

"If this comes to India, traditional gold lenders might need a new business model. Transparency in. Exploitation out," Goenka remarked.

Several social media users reacted to his post, most questioning...