RBI/2017-18/136
DCM (CC) No. 3071/03.41.01/2017-18
March
01, 2018
The Chairman & Managing
Director /
Chief Executive Officer,
All Banks
Madam / Dear Sir,
Review of Currency Distribution
& Exchange Scheme (CDES)
Please refer to the announcement
made in Part B of the Bi-Monthly Review of Monetary Policy dated
February 7, 2018. The RBI has been providing several incentives to banks,
from time to time for installation of various machines by them to encourage
technology absorption in their currency operations for improved customer
service. It is observed that the objectives of the scheme have largely been
achieved.
2. Therefore, on a review, it
has been decided to withdraw the incentives which was being given to the
banks for installation of Cash Recyclers and ATMs dispensing only lower
denomination notes as contained in the Master Direction DCM (CC)
No.G-4/03.41.01/2016-17 dated July 20, 2016.
3. The above instructions will
come into force with immediate effect. The claims in respect of machines
which were delivered to the banks before and including the date of the
circular, shall be settled by our Regional offices, subject to the limits
already advised in the above Master Direction dated July 20, 2016.
4. The circular is available on
our website – www.rbi.org.in.
Yours faithfully,
(Ajay Michyari)
Chief General Manager
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