Reserve bank of India directs all banks to accept denomination coins from public

Posted on:18 Feb 2018 09:00:02
Reserve bank of India directs all banks to accept denomination coins from public
18 February 2018 Current Affairs: The Apex bank issued a notification in Mumbai, saying such denial of service causes inconvenience to the public at large as shopkeepers and traders refuse to accept coins for payment of goods and services.

The branches to accept coins of all denominations tendered at their counters either for exchange or for deposit in accounts

Also, RBI advised all banks to accept coins, particularly in one and two rupee denominations by weightment or sachets of 100 coins each.
The Apex bank issued a notification in Mumbai, saying such denial of service causes inconvenience to the public at large as shopkeepers and traders refuse to accept coins for payment of goods and services.

The branches to accept coins of all denominations tendered at their counters either for exchange or for deposit in accounts

Also, RBI advised all banks to accept coins, particularly in one and two rupee denominations by weightment or sachets of 100 coins each.

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