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RBI to set up coin vending machines

By Staff reporter
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GUWAHATI, May 10 � To meet the �growing coin scarcity�, especially those of smaller denominations, the Reserve Bank of India in association with banks operating in the State has decided to set up coin vending machines in different places of the State, including Guwahati.

In Guwahati, the vending machines will be initially installed in Guwahati railway station and shopping malls like Big Bazar, Vishal Mega mart and Pantaloons.

The State, according to sources, has been facing acute shortage of coins for the last few years, forcing the authorities concerned to take initiatives to meet the demand.

�Banks are assessing actual demand of coins in the daily market and accordingly a slew of measures will be taken, one of which is to install vending machines in market areas,�

The RBI has already requested all the leading banks including the Central Bank of India, State Bank of India, United bank of India, HDFC, Bank of Baroda and the Punjab National Bank assess the scarcity and take steps in this regard.

Already a couple of banks have organised �Coin Mela� to ensure availability of coins, especially of smaller denominations.

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RBI to set up coin vending machines

GUWAHATI, May 10 � To meet the �growing coin scarcity�, especially those of smaller denominations, the Reserve Bank of India in association with banks operating in the State has decided to set up coin vending machines in different places of the State, including Guwahati.

In Guwahati, the vending machines will be initially installed in Guwahati railway station and shopping malls like Big Bazar, Vishal Mega mart and Pantaloons.

The State, according to sources, has been facing acute shortage of coins for the last few years, forcing the authorities concerned to take initiatives to meet the demand.

�Banks are assessing actual demand of coins in the daily market and accordingly a slew of measures will be taken, one of which is to install vending machines in market areas,�

The RBI has already requested all the leading banks including the Central Bank of India, State Bank of India, United bank of India, HDFC, Bank of Baroda and the Punjab National Bank assess the scarcity and take steps in this regard.

Already a couple of banks have organised �Coin Mela� to ensure availability of coins, especially of smaller denominations.

More in Entertainment
Similar Posts