Now no more angry faces to demand exact change
"Give me the exact change” – this phrase is most heard unanimously at MTC buses, train ticket counters, grocery stores and many others. That’s because of the demand for coins everywhere. The Reserve Bank of India, taking the scenario under consideration, has planned to introduce 65 new coin vending machines (CVM) at various bank branches. Using these, public can reach their vending machine location and collect the required coins; a maximum of coins worth Rs 100 can be obtained at once.
“These machines are expected to receive good response from the public, just like ATMs did,” said the regional director of RBI, J Sadakkadulla. The coin denominations in these machines will be Re 1, Rs 2, Rs 5 and Rs 10. Over eight banks have installed such machines. M. Narendra, Chairman and MD of Indian overseas bank shared that his bank would install 24 such CVMs. Standard Chartered Bank will have its machine at Anna Nagar. This list includes one foreign bank too.
