Reserve Bank of India

Why The Reserve Bank of India Is not withdrawing coins below 1 rupee denominations?

Today even Banks refused to accept The 5 paisa, 10 paisa, 25 paisa , 50 paisa coins for deposit, Shopkeepers also denied to accept coins below 1 rupee . Those coins should be withdrawn from the market and RBI should give exchange value of those coins to the owner.

Public Comments

1. the coins can not be leagally rejected by the bank as its a legal tender we are able to use the coins in all the small villages and town and banks can not reject