Hyderabad, March 8 -- The Central Bank of India has launched an innovative AI-powered Gold Loan ATM in Warangal, marking the first such initiative in the country.

This cutting-edge machine was inaugurated at the bank's Warangal branch by Managing Director and CEO, M V Rao, on Friday.

The AI-powered Gold Loan ATM offers several key features that make it a game-changer in the financial sector. It can complete the gold loan process in just 10 to 12 minutes using Aadhaar and mobile number verification.

How the machine works

The machine uses AI technology to assess the quality and weight of gold jewelry placed in a box within it. Payments are made based on the current market price, ensuring transparency and fairness.

Additionally, 10% of ...