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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

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