DCM (CC) No.G-10/3352/03.41.01/2015-16
May 05, 2016
The Chairman & Managing Director /
Chief Executive Officer,
Madam / Dear Sir,
Currency Distribution & 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 ourMaster Circular No. G-5/03.39.01/2014-15 dated July 01, 2014, shall remain in force.
4. The circular is available on our website – www.rbi.org.in.
(P. Vijaya Kumar)
Chief General Manager
Encl : As above