P&H HC: Bail Petition Rejected of Travel Agent Accused of Defrauding a Man for Processing Visa  ||  SC: Conviction for Stalking Quashed Due to Marriage Between Convict and Complainant  ||  All HC: S. 33-G UP Sec. Education Act a Benefi. Prov. for Teachers Serving for More Than 2 Decades  ||  All HC: SI Fixed at 6% p.a On Excess/Less Determination of Provi. Tariff Ultra Vires Electricity Act  ||  Del. HC: Entities Restrained from Infringing Personality Rights of Actor Jackie Shroff  ||  Bom HC: Authorisation to Export Necessary Even if Exporter has License to Sell Drugs for Med. Purpose  ||  Constitution Bench Judgment Not Considered, Supreme Court Recalls Judgement Passed in 2022  ||  SC: Full Ownership of Property Under S.14 (1) Can be Claimed by Hindu Woman Only if She Possesses it  ||  Supreme Court: Can’t Apply CrPC Retrospectively to Jammu & Kashmir Before 31.10.2019  ||  Mad. HC: Ritual of Devotee Rolling Over Leaves on Which Food Was Eaten by Others, Allowed    

RBI increases incentives for ATMs dispensing lower denomination notes- (Reserve Bank of India) (05 May 2016)



The Reserve Bank of India revised ‘Incentives & Penalties’ in the Currency Distribution & Exchange Scheme. By revision, the incentives for installation of machines have been restricted to Cash Recyclers & ATMs dispensing lower denomination notes.

CDES has been formulated keeping in mind customer service, with special regard to exchange of notes and coins. Banks providing such additional facilities receive incentives for the same. For instance, banks that install ATM machines dispensing lower denomination notes (up to Rs. 100), are reimbursed 50 per cent of the cost of the machine, up to a maximum of Rs. 2,00,000 – incentives are higher still if the machine is installed in a semi-urban or rural area.

Relevant : Currency Distribution & Exchange Scheme MANU/RDCM/0002/2015


Share :        

Disclaimer | Copyright 2024 - All Rights Reserved