Incentive amount increased to Rs 65 on distribution of coins

The Reserve Bank of India (RBI) has increased the incentive amount from Rs 25 to Rs 65 per bag with a view to encourage distribution of coins. In the order issued by RBI, the incentive amount given on the distribution of coins has been increased from Rs 25 to Rs 65 per bag. This order will be effective from 01 September 2021. Along with this, an additional incentive of Rs 10 per bag will be given on the distribution of coins in rural and semi-urban areas.
The Reserve Bank said that banks have been advised to provide coins only to customers transacting for business. Along with this, service should be made available to such customers on behalf of the bank under the policy of RBI ‘Every Door Banking’. Apart from these, the bank should also involve Business Correspondent (BC) to encourage coin distribution among the common people.