KANPUR: Coins of 25 paise and lesser denominations will be withdrawn from circulation from June 30. They will not be accepted for exchange at bank branches and RBI issue offices. The Reserve Bank of India has, therefore, appealed to the public to exchange these coins at branches maintaining small coin depots or at offices of the Reserve Bank. Assistant General Manager of the bank J.P.Singh informed that the exchange facility at bank branches or the Reserve Bank offices would be available till June 29. It is important to mention here that in the exercise of powers conferred by Section 15A of the Coinage Act, 1906, the Government of India has decided to withdraw the coins of denomination of 25 paise and below from circulation with effect from June 30. From this date, these coins shall cease to be the legal tender for payment as well as on account.
TOI
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