Master Direction on Currency Distribution & Exchange Scheme (CDES)
The Reserve Bank of India has introduced the Currency Distribution & Exchange Scheme (CDES) to incentivize bank branches and currency chests based on their performance in providing customer service to the public.
The scheme offers two types of incentives:
Capital Cost: Incentives for capital expenditures incurred by banks to improve their infrastructure and services.
Revenue Cost: Incentives for revenue expenditures incurred by banks to improve their operational efficiency and customer service.
The incentives are provided for two specific services:
Exchange of Soiled Notes: Incentives for banks that exchange soiled notes efficiently and effectively.
Adjudication of Mutilated Notes: Incentives for banks that adjudicate mutilated notes promptly and accurately.
To avail of these performance-based incentives, banks must follow the operational guidelines outlined in the scheme.
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