Be it at markets, bus and railways stations, or other
busy public places in the city, coin-vending machines (CVMs) are set to
make life easier for traders and the public.
Following
a push from the Reserve Bank of India (RBI), public sector lenders
along with private and foreign banks are gearing up to install CVMs in
their branches and in public places for exchange of currency notes with
coins.
A total of 65 CVMs were inaugurated at various bank branches across Chennai recently.
These
CVMs were installed by eight banks — Indian Overseas Bank (24), Indian
Bank (15), State Bank of India (10), Canara Bank (5), Bank of India (5),
Axis Bank (4), Standard Chartered Bank (1) and TNSC bank (1).
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