SITE MAP     CONTACT US     DISCLAIMER  
   About Us     Useful Information     FAQs     Financial Education     Complaints   Other Links   Extra Curricular
Search
Period
From  
To  
Archives
   
Home >> PressReleases - Display
Note : To obtain an aligned printout please download the (5.00 kb ) version to your machine and then use respective software to print the story.
Date: 30/05/2003
Acceptance of Small Coins

The Reserve Bank of India has come across reports in certain sections of the Press and is also receiving complaints that small coins of 5, 10 and 20 paise are not being accepted by banks, commercial organisations and general public for payments on the plea that these coins are no more legal tender. It is clarified that though minting and issue of these coins has been stopped, they have not been withdrawn by Government of India. All such coins issued earlier continue to be legal tender and should be accepted by all concerned for payment and exchange. It is obligatory on the part of banks to accept these coins which they can get exchanged from the nearest office of the Reserve Bank.

P. V. Sadanandan
Manager

Press Release : 2002-2003/1223

 
  © Reserve Bank of India. All Rights Reserved.

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