MANU/RDCM/0004/2016

Ministry : Reserve Bank of India

Department/Board : Department of Currency Management

Circular No. : DCM(CC)No.G-10/3352/03.41.01/2015-2016
                   RBI/2015-2016/393

Date : 05.05.2016

Notification/ Circulars Referred : Circular DCM (CC) No.4846/03.41.01/2014-15 dated May 21, 2015 MANU/RDCM/0002/2015

Subject: Banking

Citing Reference:
Circular DCM (CC) No.4846/03.41.01/2014-15 dated May 21, 2015 MANU/RDCM/0002/2015  Referred

The Chairman & Managing Director /
Chief Executive Officer,

All Banks

Madam / Dear Sir,

Currency Distribution and Exchange Scheme (CDES) for bank branches based on performance in rendering customer service to the members of public

Please refer to our Circular DCM (CC) No.4846/03.41.01/2014-15 dated May 21, 2015 on "The Scheme of Incentives & Penalties - Review".

2. As advised therein, the scheme of Incentives & Penalties has since been reviewed. On review, it has been decided to segregate the scheme of incentives from penalties as also to revise certain incentives. Accordingly, the new scheme titled "Currency Distribution & Exchange Scheme (CDES)" containing revised incentives is framed and the same is being annexed for information and necessary action. In terms of the above scheme, the performance based incentives will continue to be paid as hitherto w.e.f July 01, 2015; however, the incentives for installation of machines have been restricted to Cash Recyclers & ATMs dispensing lower denomination notes, subject to certain caps on reimbursement of cost per machine and will be effective from the date of the circular.

3. The matter relating to penalties is being reviewed. Pending issue of the same, levy of penalties as under the scheme of Incentives & Penalties issued vide our Master Circular No. G-5/03.39.01/2014-15 dated July 01, 2014, shall remain in force.