NEWS & ADVICE : FIXED DEPOSITS
25p and lower denomination coins to evanish from 1 July
By Neelima Shankar
Feb 2, 2011
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Government of India has decided to withdraw coins of 25 p and lower denominations from circulation in the country from 1 July 2011.

In response to this Reserve Bank of India has allotted has directed 45 banks which maintain small coin collection depots to facilitate the exchange of these coins in their branches. The coins will be exchanged for their face values.

Apart from these bank branches, the exchange facility will also be available on all Issue Offices of RBI.

These coins will stop being in circulation from June 30, 2011 and with effect from July 1, 2011 these coins will not be exchanged by banks too.


 


(Comments Posted : 1) Post Your Comments
1. Kindly send the details where one will deposit 25p coin as SBI is refusing to exchange.
susanta (Posted: May 21, 2011)
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