4th, Jul, 2025

Gold Loan in 10 Minutes? Central Bank of India Makes It Possible with AI ATM in Paramakudi, Madurai

Madurai, July 2025 – In a major leap toward digital innovation in banking services, Central Bank of India has launched its AI-powered Digital Gold Loan Machine at Paramakudi, near Madurai. This cutting-edge solution enables customers to receive gold loans in just 10–15 minutes, redefining the process of gold-backed lending in the country.

Fast, Secure, and Hassle-Free Gold Loan in 10 Minutes

The AI-powered machine offers instant gold loans through a simple and secure process that includes:

• Aadhaar-based authentication

• Real-time gold purity assessment

• Instant loan eligibility check

• Direct transfer of funds to the customer’s bank account

Customers receive 10% of the loan amount in cash on the spot, while the remaining 90% is credited directly to their savings account, ensuring complete convenience and transparency.

A First in India AI-Powered Gold Loan ATM in Paramakudi, Madurai

With this launch, the Central Bank of India becomes the first public sector bank in India to introduce an automated gold loan machine equipped with artificial intelligence. This initiative aligns with the bank’s vision to provide smart, contactless, and efficient services, especially in semi-urban and rural regions like Paramakudi.

Empowering Local Communities

By bringing this advanced gold loan solution to smaller towns, the bank aims to:

• Enhance financial inclusion

• Provide quick access to credit for farmers, traders, and small business owners

• Reduce dependency on unorganized gold loan providers

Speaking about the launch, a senior official from Central Bank of India stated, “This AI-driven system not only ensures accurate purity testing of gold but also boosts customer confidence by offering a transparent and quick lending process.”

What’s Next?

Encouraged by the success at Paramakudi, the Central Bank of India is planning to expand the AI Gold Loan Machine network across more locations in Tamil Nadu and other states. This marks a significant step forward in digital banking services, especially for customers looking for quick liquidity against gold assets.

About Central Bank of India

Established in 1911, the Central Bank of India is one of the oldest and most trusted public sector banks in the country. It continues to innovate with technology to bring smarter banking solutions to its diverse customer base.

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