{"id":3488,"date":"2023-03-01T07:15:03","date_gmt":"2023-03-01T01:45:03","guid":{"rendered":"https:\/\/vajiramandravi.com\/current-affairs\/?p=3488"},"modified":"2025-03-26T12:42:25","modified_gmt":"2025-03-26T07:12:25","slug":"qr-code-based-coin-vending-machine-qcvm","status":"publish","type":"post","link":"https:\/\/vajiramandravi.com\/current-affairs\/qr-code-based-coin-vending-machine-qcvm\/","title":{"rendered":"QR-Code based Coin Vending Machine (QCVM)"},"content":{"rendered":"<h2><strong>About QR-Code based Coin Vending Machine (QCVM):<\/strong><\/h2>\n<ul>\n<li>QCVM is a <strong>cashless coin dispensation machine<\/strong> that would <strong>dispense coins<\/strong> with the requisite amount being debited from the customer\u2019s account <strong>using United Payments Interface (UPI).<\/strong><\/li>\n<li>It will <strong>eliminate the need for physical tendering of banknotes<\/strong> and their authentication.<\/li>\n<li>It will be launched with an <strong>aim to promote the distribution of coins<\/strong> and <strong>enhance the accessibility to coins.<\/strong><\/li>\n<li>Customers will also have the <strong>option to withdraw coins in required quantity<\/strong> and <strong>denominations<\/strong> in QCVMs.<\/li>\n<li>The pilot project is planned to be <strong>initially rolled out at 19 locations<\/strong> in 12 cities across the country.<\/li>\n<li>These vending machines are <strong>intended to be installed at public places<\/strong> such as railway stations, shopping malls, and marketplaces to enhance ease and accessibility.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<hr \/>\n<h3>Q1)\u00a0What is United Payments Interface (UPI)?<\/h3>\n<p>A Unified Payment Interface (UPI) is a smartphone application that allows users to transfer money between bank accounts. It is a single-window mobile payment system developed by the National Payments Corporation of India (NPCI). It eliminates the need to enter bank details or other sensitive information each time a customer initiates a transaction.<\/p>\n<p><strong>Source:<\/strong>\u00a0<a href=\"https:\/\/indianexpress.com\/article\/explained\/explained-global\/windsor-framework-deal-uk-and-eu-northern-ireland-protocol-8471855\/\" target=\"_blank\" rel=\"nofollow noopener\"><u>Windsor Framework: What is the deal UK and EU have reached to solve the Northern Ireland Protocol tangle<\/u><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>QR-Code based Coin Vending Machine is a cashless coin dispensation machine that would dispense coins with the requisite amount debited from the customer\u2019s account.<\/p>\n","protected":false},"author":5,"featured_media":3490,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":{"0":"post-3488","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-upsc-prelims-current-affairs","8":"no-featured-image-padding"},"acf":[],"_links":{"self":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/3488","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/comments?post=3488"}],"version-history":[{"count":0,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/posts\/3488\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media\/3490"}],"wp:attachment":[{"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/media?parent=3488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/categories?post=3488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vajiramandravi.com\/current-affairs\/wp-json\/wp\/v2\/tags?post=3488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}