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.