Sign In
Learn bits
Economy
Mahesh

10/02/23 07:56 AM IST

QR code-based coin vending machine

In News
  • Reserve Bank of India (RBI) Governor Shaktikanta Das recently said that the central bank will start a pilot project to launch QR code based coin vending machines.
About Vending machine
  • The new QR-code based pilot will offer ease and ready access to coins for customers via UPI facility.
  • With the initial launch across 12 cities in India, this move by the RBI is a strategic decision which will benefit the Indian payments landscape.
  • These vending machines will dispense coins against debit to the customer’s account.
  • These vending machines will dispense coins using UPI instead of physical tendering of banknotes.
  • This will enhance the ease of accessibility to coins.
  • These vending machines are intended to be installed at public places such as railway stations, shopping malls, marketplaces to enhance ease and accessibility.
Source- Indian Express

More Related Current Affairs View All

05 Mar

First-ever comprehensive survey of India’s river dolphins

'Prime Minister Narendra Modi released the results of the first-ever comprehensive population estimation of riverine dolphins – Gangetic and Indus dolphins – done in In

Read More

05 Mar

Arresting women at night

'The Madurai Bench of the Madras High Court in Deepa versus S. Vijayalakshmi and Others ruled that the legal provision in the Bharatiya Nagarik Suraksha Sanhita (BNSS), 2023, which

Read More

05 Mar

Digital Personal Data Protection Act, 2023

'The Ministry of Electronics and Information Technology (MeitY) looking to wrap up public consultations on the draft Rules for the Digital Personal Data Protection Act, 2023 by Mar

Read More

India’s First Ai-Driven Magazine Generator

Generate Your Custom Current Affairs Magazine using our AI in just 3 steps