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

22 Aug

Uttarakhand State Authority for Minority Education (USAME) Bill, 2025

'The Uttarakhand Assembly on Wednesday passed the Minority Education Bill, 2025, extending minority status benefits to institutions run by the Sikh, Jain, Buddhist, Christian, and

Read More

22 Aug

India needs a national space law urgently

'A nation with a strong base in science and technology is a nation with a strong backbone” — these words of A.P.J. Abdul Kalam ring truer than before as India celebrate

Read More

22 Aug

Organ transplantation

'The National Organ and Tissue Transplant Organisation (NOTTO) recently issued a direction stating that women patients and relatives of deceased donors will receive priority in org

Read More

India’s First Ai-Driven Magazine Generator

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