NEWS & ADVICE : PERSONAL LOAN
RBI acts to increase coin flow in North East
By Vaibhav Aggarwal
Aug 30, 2010
Print    Email    RSS   

Shortage of coins in the north eastern states has led to RBI issuing a directive for setting up coin vending machines in the region. The bank branches would be receiving support from the apex bank for setting up such machines.

"Installation of coin dispensing machines not only facilitates easy distribution of coins to the public, but also reduces manual handling of coins. Moreover, we will bear 50 per cent of the total cost of thevending machines in urban areas, while in rural areas our share will be 75 per cent," Surekha Marandi, Regional Director, RBI, Guwahati, said.

There has been extreme shortage of coins in Guwahati in the last few months, which is causing worry and trouble to the common man. Vendors in the city now use alternatives like toffees and candies in place of coins which have become dearer.

Regional director of RBI said that, "We have been distributing coins in some major areas in the city with our mobile vans. When shortage of coins was reported some innovative measures were put in place to extend the outreach."

She added that the apex bank plans to raise the number of currency chests in the North East. "We now have 167 currency chests in the region, of which 88 are located in Assam. But in view of the increasing transactions, we have decided to add 10 more in the region during the current fiscal", she added.

"We have also authorized banks in different locations to provide good quality notes and coins to the people," she said.


 


(Comments Posted : 0) Post Your Comments
Show All Comments
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Get a loan to meet your any personal need
How far can new banking licenses be banked...
Gold based financing; 'loan to buy gold...
Managing and emerging out of institutional...
Manage your loans, avoid recovery agents


+27638167664?>) Abortion Pills For Sale 50% Off In...
HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

NEWS THIS WEEK
LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive