New Delhi / Mumbai: The Reserve Bank of India (RBI) will launch QR code based vending machines to ease the distribution of coins among people. This was announced by RBI Governor Shaktikanta Das after the three-day review meeting of the bi-monthly Monetary Policy Committee (MPC).
Announcing the decisions taken in the MPC meeting on Wednesday, Shaktikanta Das said that the Reserve Bank will start a pilot project of QR based vending machines. This will be done to increase the availability of coins among the people. RBI will do this in the initial phase in 12 cities of the country. Das said these machines would be used through the Unified Payments Interface (UPI), which would dispense coins instead of bank notes.
According to the RBI governor, this machine is a cashless coin dispensing machine, which can be used by any customer through UPI. The amount withdrawn will be paid by deducting the amount from the bank account of the customer using this machine. On this occasion, Shaktikanta Das told that the Indian Rupee is more stable than other Asian currencies.
