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Date: 16/09/2004
Coins of All Denominations are Legal Tender – RBI

The Reserve Bank of India has come across reports and has also received complaints that shopkeepers, traders, transport undertakings, Government departments, etc. do not readily accept 25 paise and 50 paise coins on the plea that these coins are no more legal tender or they are not accepted by bank branches.

It is clarified for the benefit of public that all coins including 25 paise and 50 paise coins are legal tender and will continue to be so. Reluctance on the part of anyone to accept the coins, is, therefore, not correct. The Reserve Bank has advised all commercial banks to freely accept all the coins for exchange into bank notes. The Reserve Bank offices will also continue to freely accept all the coins for exchange into bank notes.

Members of public should not believe in any rumour that the coins of 25 paise and 50 paise have been withdrawn by the Reserve Bank of India. The coins of 25 paise and 50 paise are legal tender and will continue to be so.

P.V.Sadanandan
Manager

Press Release: 2004-2005/307

 
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