Do you have loads of 25 Paise coins?
Tuesday, March 15, 2011
Do you have loads of 25 paise coins? If yes, then its time to exchange them because they are going to expire by June 30th.
It might sound funny, as we are not seeing even 50 paise coins now-a-days. But RBI thinks people are still using 25 paise coins. They issued a press statement saying 25 paise coins can't be used as legal tender for payment after June 30th.
They also said, these coins can be exchanged from the listed 41 banks across the country. The point here is - people doesn't go to bank just to exchange a few coins. Even if you have 40 coins, you will be getting 10 Rupees for that. Don't think a single person has those many coins and they go to bank to exchange them. Hence my question "Do you have loads of 25 paise coins?" makes sense, I think.
Source of press statement and the 41 banks list: Times of India
It might sound funny, as we are not seeing even 50 paise coins now-a-days. But RBI thinks people are still using 25 paise coins. They issued a press statement saying 25 paise coins can't be used as legal tender for payment after June 30th.
They also said, these coins can be exchanged from the listed 41 banks across the country. The point here is - people doesn't go to bank just to exchange a few coins. Even if you have 40 coins, you will be getting 10 Rupees for that. Don't think a single person has those many coins and they go to bank to exchange them. Hence my question "Do you have loads of 25 paise coins?" makes sense, I think.
Source of press statement and the 41 banks list: Times of India
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