DCM (NE) No.3057/08.07.18/2018-19
June 26, 2019
The Chairman and Managing Director /
The Managing Director/
The Chief Executive Officer
Madam / Dear Sir,
Acceptance of coins
We invite a reference to our circular DCM (RMMT) No.2945/11.37.01/2017-18 dated February 15, 2018 on the captioned subject and Paragraph 1 (d) of our Master Circular DCM (NE) No.G-2/08.07.18/2018-19 dated July 02, 2018 (updated as on January 14, 2019) on Facility for Exchange of Notes and Coins, where it was advised that none of the bank branches should refuse to accept small denomination notes and / or coins tendered at their counters.
2. However, Reserve Bank continues to receive complaints about non-acceptance of coins by bank branches, causing considerable inconvenience to the public at large.
3. You are, therefore, once again advised to immediately direct all your branches to accept coins of all denominations tendered at their counters for transactions or exchange and ensure strict compliance in the matter.
Chief General Manager-in-Charge