RBI increases incentives for banks for distribution of coins from Rs. 25 to Rs 65 per bag

In order to ensure that all bank branches provide better customer services to members of public with regard to exchange of notes and distribution of coins. As a result, the RBI has decided to increase the incentives being paid to the banks for distribution of coins from Rs. 25 per bag to 65 per bag and the amount will be paid on the basis of net withdrawal from currency chest without waiting for claims from banks.In order to ensure that all bank branches provide better customer services to members of public with regard to exchange of notes and distribution of coins. As a result, the RBI has decided to increase the incentives being paid to the banks for distribution of coins from Rs. 25 per bag to 65 per bag and the amount will be paid on the basis of net withdrawal from currency chest without waiting for claims from banks.taxmann.com Latest Statutory HappeningsRead More

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