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Coins of 25 Paise and Below - Withdrawal from Circulation


 Notice Date : 15 March 2011

 Coins of 25 Paise and Below - Withdrawal from Circulation

 

RBI/2010-11/428

UBD.BPD. (PCB). Cir.No. 39 /09.73.000/2010-11

March 15, 2011

 

The Chief Executive Officers,

All Primary (Urban) Co-operative Banks.

 

Madam / Dear Sir,

 

Coins of 25 Paise and Below - Withdrawal from Circulation

 

Please refer to the Govt. of India Gazette Notification S.O 2978(E) dated December 20, 2010 and the Reserve Bank Press Release dated February 1, 2011 on the above subject (copies enclosed).

 

2. The Government of India has decided to withdraw coins of denomination of 25 paise and below from circulation with effect from June 30, 2011. The Reserve Bank of India has instructed the banks maintaining small coin depots to arrange for exchange of coins of denomination of 25 paise and below for their face value at their branches. The coins will be exchanged at the branches of these banks as also the offices of the Reserve Bank till the close of business on June 30, 2011. Coins of denomination of 25 paise and below will not be accepted for exchange at the bank branches from July 1, 2011 onwards. The UCBs may take note of the above instructions.

 

3. Please acknowledge receipt to the Regional Office concerned.

 

Yours faithfully

(Uma Shankar)

Chief General Manager



Encls: 3

 

Guest
on 17 March 2011
Notification No : UBD.BPD. (PCB). Cir.No. 39 /09.73.000/2010-11
Published in Others
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