Performance-Based Incentives for Currency Distribution & Exchange Scheme (CDES)
The Reserve Bank of India has introduced a scheme to incentivize bank branches and currency chests based on their performance in rendering customer service to the public.
The incentives are categorized into two types:
Capital Cost: Incentives for capital expenditure incurred by banks to improve their infrastructure and services.
Revenue Cost: Incentives for revenue expenditure 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 in a timely and accurate manner.
To avail these performance-based incentives, banks must follow the operational guidelines set by the Reserve Bank of India.
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