The
Currency Distribution & Exchange Scheme (CDES) for bank branches including
currency chests has been formulated for exchange of notes and coins, in keeping
with the objectives of Clean Note Policy.
Incentives
Sr
No.
|
Nature
Service
|
Particulars
of Incentives
|
i
|
Opening and maintaining currency
chests at centres having population of less than one lakh in underbanked
States
|
a.
Capital
Cost: Reimbursement of 50% of capital expenditure subject to a
ceiling of Rs.50 lakh per currency chest.
In the North Eastern region up to 100%, subject to the ceiling of Rs.50
lakh.
b.
Revenue cost: Reimbursement of 50% of
revenue expenditure for the first 3 years. In the North Eastern region 50% will
be reimbursed for the first 5 yrs.
|
ii
|
Exchange of soiled notes/adjudication
of mutilated notes over the counter at bank branches.
|
a.
Exchange of soiled notes – Rs.2 per
packet up to denomination Rs.50
b.
Adjudication
of mutilated notes – Rs.2
per piece
|
iii
|
Distribution of coins over
counter
|
i.
Rs.25/- per bag.
ii.
The incentives would be paid on the basis of
withdrawal from currency chest, without waiting for claims
from banks.
iii.
Banks are to ensure that coins are distributed to
retail customers in small lots.
iv.
The distribution shall be verified by RBI through
inspection / incognito visits.
|
iv
|
Installation of
Machines extending cash related
retail services to public
i.
Cash Recyclers;
ii.
ATMs dispensing upto denominations of Rs.100/-
Note - ATMs
distributing denomination of Rs.500/- and above are not eligible for
reimbursement.
|
The maximum amount of reimbursement
for the machines will be as follows:
For Metro / Urban areas
i.
Cash Recyclers : 50% of the actual cost or
Rs.2 lac whichever is lower
ii.
ATMs dispensing uptoRs.100/- : 50% of the
actual cost or Rs.2 lac whichever is lower
For Semi-urban / Rural areas –
i.
Cash Recyclers : 60% of the actual cost of
the machine or Rs.
2,50,000 whichever is lower.
ii.
ATMs dispensing up to Rs.100/- : 60% of the
actual cost of the machine or Rs.2,50,000 whichever is lower.
|
Operational
Guidelines to avail the incentives -
Performance
based incentives -
i)
The
incentives will be paid on the soiled notes actually received in the Issue
Office of the RBI. Banks need not submit a separate claim. Currency chest
branch will pass on the incentive to the linked branches on a pro-rata basis.
ii)
Incentive
will be paid in respect of the adjudicated notes received along with the soiled
note remittances / sent separately by registered / insured post in a sealed
cover to the RBI. No separate claim is required to be made.
Incentives for
installation of machines
i)
The
banks intending to purchase machines or establish currency chests during July
01st to June 30th of a year, may submit their Annual
Plans, to RBI by April 15. RBI may then advise the maximum amount of permissible
reimbursement.
ii)
The
claim of incentives for installation of Cash Recyclers and ATMs dispensing
lower denomination notes should be submitted on a quarterly basis within 30
days from the close of the respective quarter only after full payment is made
to the vendors.
Based on RBI master direction dated 20th July
2016. For further clarifications refer www.rbi.org.in
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