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

17 Jan

Groundwater contamination in India

'Of the 15,239 groundwater samples collected from across the country for testing, 19.8% samples had nitrates — nitrogenous compounds — above safe limits though it must

Read More

17 Jan

Draft data protection rules

'The Ministry of Electronics and Information Technology on January 3, 2025, released the the draft rules for implementing the Digital Personal Data Protection (DPDP) Act, 2023 &mda

Read More

16 Jan

INS Surat, INS Nilgiri and INS Vaghsheer commissioned

'PM Modi dedicated three frontline naval combatants to the nation on their commissioning.' The naval combatants – INS Surat, INS Nilgiri and INS Vaghsheer --were commissio

Read More

India’s First Ai-Driven Magazine Generator

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