No Dearth of Coins: RBI - ಆರ್ಬಿಐ - Reserve Bank of India
No Dearth of Coins: RBI
The Reserve Bank of India has today stated that there is no dearth of coins of any denomination and the members of public should assert their right to get the appropriate change and should not accept other goods in return for the balance amount due to them. It has also reiterated that coins of all denominations are legal tender.
The Reserve Bank of India has come across reports and has also received complaints that traders and shopkeepers are reluctant to return the small change on grounds of non-availability of coins, particularly, 25 and 50 paise denominations. The Reserve Bank of India has informed that there is absolutely no shortage of coins of any denomination with all the offices of the Reserve Bank of India and also banks. In fact, the Reserve Bank in many of its offices is facing the problem of reverse flow of coins, i.e., members of public are returning the coins.
Alpana Killawala
Chief General Manager
Press Release: 2004-2005/829