Reserve Bank of India (RBI) plans to launch vending machines for coins of denomination of one, two and five rupees. Sources say that the Reserve Bank of India has advised banks to launch vending machines to facilitate their distribution.

A.Udgat the RBI regional director said “The move is to facilitate the availability of coins for bank customers and common man”

The RBI wants all the banks to install such vending machines at important places where people can exchange currency notes for coins, he said.

He said that both public and private sector banks including State Bank of India, Punjab National Bank and ICICI Bank have shown interest in the machine and PNB has already purchased a few vending machines.

Once these machines hit the market, they are said to solve the coin crunch and finally bank staffs will be free from their exchange work.