{"id":225942,"date":"2023-02-10T19:33:00","date_gmt":"2023-02-10T14:03:00","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=225942"},"modified":"2023-02-22T10:52:18","modified_gmt":"2023-02-22T05:22:18","slug":"rbi-announces-pilot-for-qr-code-based-coin-vending-machine","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/rbi-announces-pilot-for-qr-code-based-coin-vending-machine\/","title":{"rendered":"RBI announces pilot for QR code-based Coin Vending Machine"},"content":{"rendered":"\n<p><b>Source: <\/b><span style=\"font-weight: 400;\">The post is based on the article<\/span><b> \u201cRBI announces pilot for QR code-based Coin Vending Machine\u201d<\/b><span style=\"font-weight: 400;\"> published in<\/span><b> Economic Times <\/b>on <b>10th February 2023<\/b><\/p>\n<h2><b>What is the News?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Reserve Bank of India(RBI) is preparing a pilot project on QR code-based Coin Vending Machine(QCVM) in collaboration with a few leading banks.\u00a0<\/span><\/p>\n<h2><b>What is a QR code-based Coin Vending Machine(QCVM)?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">QCVM is a cashless coin dispenser that dispenses coins in exchange for a debit to the customer&#8217;s bank account via the Unified Payments Interface (UPI).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unlike standard cash-based Coin Vending Machines, the QCVM would not require actual tendering of banknotes or their validation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Customers will also be able to withdraw coins in the required number and denominations from QCVMs.<\/span><\/p>\n<h2><b>Where will QCVM be launched?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">The trial project will begin with 19 locations in 12 cities across the country. These vending machines are designed to be deployed in public spaces such as railway stations, shopping malls, and marketplaces to improve convenience and accessibility.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Based on the results of the pilot tests, banks will be given guidance to promote improved coin distribution using QCVMs.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Source: The post is based on the article \u201cRBI announces pilot for QR code-based Coin Vending Machine\u201d published in Economic Times on 10th February 2023 What is the News? Reserve Bank of India(RBI) is preparing a pilot project on QR code-based Coin Vending Machine(QCVM) in collaboration with a few leading banks.\u00a0 What is a QR&hellip; <a class=\"more-link\" href=\"https:\/\/forumias.com\/blog\/rbi-announces-pilot-for-qr-code-based-coin-vending-machine\/\">Continue reading <span class=\"screen-reader-text\">RBI announces pilot for QR code-based Coin Vending Machine<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,3127,9],"tags":[10596],"class_list":["post-225942","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-economy","category-public","tag-economic-times","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":1700788171,"cached_date":1703939021},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/225942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=225942"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/225942\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=225942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=225942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=225942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}