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Exchange of soiled notes - Re.1, Rs.2 and Rs.5 (denomination)and distribution of coins in exchange, RBI reaches out to public

In May 1999, the Reserve Bank of India, Fort, Mumbai, embarked on a scheme of direct distribution of coins to the public in select locations of Greater Mumbai by involving voluntary service organisations/commercial banks. The network of areas covered is being expanded so that the facility can be extended to different locations. Considering the good response from the public to these efforts, it has been decided to repeat such mobile distribution of coins every week at the identified centres, so that RBI is enabled to reach out to the public directly and the benefit is availed by all the people, in the matter of availability/adequacy of coins for day-to-day use. The Reserve Bank of India is presently making available coins up to Rs.800 packed in 'Potlas' of 100 pieces each of Re.1, Rs.2 and Rs.5 in exchange. In addition a reasonable quantity of 50 paise and 25 paise coins will also be available for exchange at these centres, such distribution network is being extended to Goregaon West from the next week. Members of the public in Goregaon (W) area may avail this facility at the premises of the Goregaon Merchants Association, 9, Rajendra Park, Keshav Gore Marg, next to Nalanda Shopping Centre, Goregaon (W), Mumbai-400 062 on every Tuesday effective from 15th June 1999 between 10.30 a.m. to 1.30 p.m. (excluding public holidays). Exchange of soiled notes of Re.1, Rs.2 and Rs.5 into coins will also be done at this centre.

Rupambara Padhi
Manager

Press Release : 1998-99/1553

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