Currency Distribution & Exchange Scheme (CDES)
The Reserve Bank of India has introduced the Currency Distribution & Exchange Scheme (CDES) to incentivize banks for providing excellent customer service to the public.
Incentives:
The scheme offers two types of incentives:
a. Capital Cost: Incentives for installation of machines.
b. Revenue Cost: Incentives for exchange of soiled notes and adjudication of mutilated notes.
Operational Guidelines:
The incentives will be provided based on the performance of banks in rendering customer service. The guidelines for availing the incentives are as follows:
3.1 Performance-based Incentives: Banks will be incentivized based on their performance in providing customer service.
3.2 Incentives for Installation of Machines: Banks will receive incentives for installing machines that facilitate currency distribution and exchange.
The scheme aims to improve the overall customer experience and encourage banks to provide better services to the public.
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