RBI To Conduct Exchange Melas For Coins, Torn & Soiled Notes In 314 Blocks Of Odisha

Bhubaneswar: Amid reports about traders refusing to accept coins of lower denominations ranging from 50 paise to Rs 20, the regional office of Reserve Bank of India (RBI), Bhubaneswar, on Wednesday asserted that these are legal tenders for payment as well as on account.

Speaking to the media, Regional Director of the RBI, Sarada Prasanna Mohanty said there is spread awareness and debunk rumours about ineffectiveness of some coins. “People can also deposit these coins in banks. No bank can refuse to accept coins from their customers,” he said.

Mohanty further informed said the regional office of RBI has decided launched a drive for exchanging coins, torn, damaged and soiled notes in all 314 blocks of Odisha. “The exchange melas will be organised at marketplaces in rural areas of the state in the next two-three months, beginning first or second week of December,” he added.

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