RBI launches QR Code-based Coin Vending Machine

Current context: The Reserve Bank of India has launched a new QR code-based coin vending machine to address the issue of fake currency notes in coin vending machines.

The decision to launch the machine was made during the recent Monetary Policy Committee meeting. The machines will be introduced in 12 cities nationwide in the first phase.
The consumer need not use currency notes. Earlier, they used to do it. The machines will use UPI-based systems instead of physical banknotes, allowing consumers to access coins using their bank account password or pin.
The machine aims to increase the accessibility and distribution of coins in the country, as the supply of coins is high, but their distribution is uneven.
Travelers from G-20 nations will first have access to this facility when they arrive at specific international airports.
For easy access, the new vending machines will be placed in 19 locations across 12 cities, including shopping malls, railway stations, and other public places.