SITE MAP     CONTACT US     DISCLAIMER  
   About Us     Useful Information     FAQs     Financial Education     Complaints   Other Links   Extra Curricular
Search
Period
From  
To  
Archives
   
Home >> Notification - Display
Note : To obtain an aligned printout please download the (10.00 kb ) version to your machine and then use respective software to print the story.
Date: 27/12/2004
Non-acceptance of coins

RBI / 2004-05 / 315
DCM (Plg) No.G-31 /10.03.00/2004-05

December 27, 2004

Currency Chest maintaining Banks as per list.

Dear Sir / Madam

Non-acceptance of coins

Please refer to the directions/instructions advised to you in our letter DCM(RMMT) No. 1181/11.37.01/2003-04 dated April 5, 2004, on acceptance of coins by bank branches. The hardship faced by the members of public because of non-acceptance of coins by branches of commercial banks was deliberated upon, among other issues, in the Conference of Regional Heads of Issue Offices and Senior Officers from the chest maintaining banks, held at the Reserve Bank Staff College, Chennai, on November 22, 2004.

2. As we still continue to receive directly as well as indirectly complaints about non-acceptance of coins by bank branches, we advise you once again to immediately direct all your branches to accept coins of all denominations tendered at their counters either for exchange or for deposit in accounts. We hope that a notice informing public about the availability of exchange facility and acceptance of coins has been displayed suitably inside as also outside the branch premises for information of the public.

3. In order to facilitate the handling of coins received over the counters, you may consider installation of sorting machines, especially in big organizations /temple towns/branch premises. As advised earlier, the aluminium coins of 5 paise, 10 paise and 20 paise, aluminium bronze coins of 10 paise, stainless steel coins of 10 paise and cupronickel coins of 25 paise, 50 paise and Re.1 may be remitted to the Government of India Mints at Mumbai/Kolkata/Hyderabad with prior intimation as per the existing procedure. Efforts should be made to recirculate the stainless steel coins of 25 paise, 50 paise and Re.1 and cupronickel coins of Rs. 2 and Rs. 5 denominations. However, in case of lack of demand for these coins, the Issue Department of the Circle may be approached for remittance of coins.

4. You are once again requested to issue necessary instructions to all your bank branches to accept coins from public without any restriction so as to avoid any inconvenience to the public.

5. Please acknowledge receipt and apprise us of the action taken in the matter.

Yours faithfully,

(U.S.Paliwal)
Chief General Manager


List of Banks to whom letter DCM (Plg) No. G-31 /10.03.00/2004-05 dated 27th December 2004, is addressed.

Sl.No.

Name of the Banks

Sl.No.

Name of the Banks

Public Sector Banks

Private Sector and Others

1

Allahabad Bank

1

Bank of Punjab Ltd.

2

Bank of Baroda

2

The Bank of Rajasthan Limited

3

Bank of Maharashtra

3

Catholic Syrian Bank Ltd.,

4

Central Bank of India

4

The Dhanalakshmi Bank Limited

5

Dena Bank

5

The Federal Bank Limited

6

Indian Bank

6

HDFC Bank Ltd

7

Punjab & Sind Bank

7

ICICI Bank Limited

8

State Bank of India

8

IDBI Bank Ltd.,

9

Andhra Bank

9

The Jammu & Kashmir Bank Limited

10

Canara Bank

10

The Karnataka Bank Ltd.,

11

Bank of India

11

The Karur Vysya Bank Limited

12

Corporation Bank

12

The Lakshmi Vilas Bank Ltd.,

13

Indian Overseas Bank,

13

The South Indian Bank Ltd.,

14

Oriental Bank of Commerce,

14

Tamilnad Mercantile Bank Ltd.,

15

Punjab National Bank,

15

UTI Bank Ltd.,

16

Syndicate Bank,

16

The Ing Vysya Bank Limited

17

UCO Bank

17

Standard Chartered Bank

18

United Bank of India,

18

Rajasthan Co-op Bank Ltd.,

19

Union Bank of India,

20

Vijaya Bank

21

State Bank of Bikaner & Jaipur

22

State Bank of Patiala,

23

State Bank of Indore

24

State Bank of Travancore

25

State Bank of Hyderaba

26

State Bank of Mysore,

27

State Bank of Saurashtra


 
  © Reserve Bank of India. All Rights Reserved.

Best viewed in 1024x768 resolution in IE 5 and above.