| Denominations
Coins in India are presently being issued in denominations of 10
paise, 20 paise, 25 paise, 50 paise, one rupee, two rupees and five
rupees. Coins upto 50 paise are called 'small coins' and coins of
Rupee one and above are called 'Rupee Coins'. Coins can be issued
up to the denomination of Rs.1000 as per the Coinage Act, 1906.
Distribution
Coins are received from the Mints and issued into circulation through
its Regional Issue offices/sub-offices of the Reserve Bank and a
wide network of currency chests and coin depots maintained by banks
and Government treasuries spread across the country. The RBI Issue
Offices/sub-offices are located at Ahmedabad, Bangalore, Belapur
(Navi Mumbai), Bhopal, Bhubaneshwar, Chandigarh, Chennai, Guwahati,
Hyderabad, Jammu, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur,
New Delhi, Patna and Thiruvananthapuram. These offices issue coins
to the public directly through their counters and also send coin
remittances to the currency chests and small coin depots. There
are 4422 currency chest branches and 3784 small coin depots spread
throughout the country. The currency chests and small coin depots
distribute coins to the public, customers and other bank branches
in their area of operation. The members of the public can approach
the RBI offices or the above agencies for requirement of coins.
Measures to improve the supply of coins
- The various Mints in the country have been modernised and upgraded
to enhance their production capacities.
- Government has in the recent past, imported coins to augment
the indigenous production.
- Notes in denomination of Rs.5 have been reintroduced to supplement
the supply of coins.
New initiatives for distribution
- Coin Dispensing Machines have been installed at select Regional
Offices of the Reserve Bank on pilot basis.
- Dedicated Single-window counters have been opened in several
of the Reserve Bank's offices for issuing coins of different denominations
packed in pouches.
- Mobile counters are being organised by the Reserve Bank in commercial
and other important areas of the town where soiled notes can be
exchanged for coins.
Appeal to the Public
The Bank, with active co-operation from various agencies, has been
endeavouring to distribute the coins in an equitable manner to all
parts of the country. The mission cannot be successful without unstinting
support from the people at large and the various voluntary agencies.
Members of public are requested to avoid holding on to coins and
instead, use them freely for transactions to ensure that there is
a smooth circulation of coins. Voluntary agencies are requested
to educate the public about the various facilities available in
their areas for distribution of coins, exchange of soiled notes
and proper handling of notes. |
