On Wednesday, RBI Governor Shaktikanta Das announced that the central bank would launch a pilot program for QR code-based coin vending machines (QCVMs) in 12 cities. Instead of physically tendering banknotes, these vending machines will disburse coins against debits to the customer’s account with the help of UPI.
Addressing the outcome of the Monetary Policy outcome for calendar year 2023, the central bank’s governor said that the RBI will launch a QR code-based coin vending machine to enhance ease of access to coins.
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