Master Direction on Framework of incentives for Currency Distribution & Exchange Scheme for bank branches including currency chests - ആർബിഐ - Reserve Bank of India
Master Direction on Framework of incentives for Currency Distribution & Exchange Scheme for bank branches including currency chests
RBI/DCM/2024-25/113 April 1, 2024 The Chairman / Managing Director / Chief Executive Officers Madam / Dear Sir, Master Direction on Framework of incentives for Currency Distribution & Exchange Scheme for bank branches including currency chests In terms of the Preamble to and Section 45 of the Reserve Bank of India Act, 1934 (RBI Act) and Section 35A of the Banking Regulation Act, 1949, Reserve Bank of India issues guidelines / instructions for realising the objectives of Clean Note Policy as part of currency management. With a view to furthering these objectives, the Bank has formulated a framework of incentives titled Currency Distribution and Exchange Scheme (CDES) to encourage all the bank branches to provide better customer services to the members of public. 2. The enclosed Master Direction incorporates updated guidelines / circulars on the subject. Yours faithfully, (Sanjeev Prakash) Encl: As above Master Direction on Framework of Incentives for “Currency Distribution & Exchange Scheme (CDES)” for bank branches including currency chests 1. The framework of incentives, titled Currency Distribution & Exchange Scheme (CDES) for bank branches including Currency Chests (CCs), based on performance in rendering customer service to the members of public has been formulated to encourage all the bank branches to provide better customer service to the members of public keeping in view the objectives of Clean Note Policy. 2. Incentives As per the scheme, banks are eligible for the following financial incentives / service charges for setting up requisite infrastructure and facilitating exchange / distribution of notes and coins:
3. Other operational instructions on payment of performance-based incentives
1 For incentive calculation, 5000 pieces of 50 paise coins; 2500 pieces of ₹1, ₹2 or ₹5 coins; 2000 pieces of ₹10 or ₹20 coins would be deemed to constitute one bag. 2 Large modern CCs are those CCs which fulfil the Minimum Standards for a CC as detailed in the circular RBI/2018-19/166 DCM(CC) No. 2842/03.39.01/2018-19 dated April 08, 2019. |