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25 paise and below to loss value by July 1
Correspondent Kohima, Feb 11(NPN):
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Published on 12 Feb. 2011 1:33 AM IST
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Coins of the denomination 25 Paise and below which is currently in circulation will soon loss its value and cease to be a legal tender for any payment as well as account after June 30 next. The Government of India has decided to call in from circulation the coins of denomination of 25 paise and below. The Government of India took the decision while exercising powers conferred to it by section 15A of the Coinage Act 1906 (3 of 1906). Reserve Bank of India (RBI) Regional Director for NE state recently notified this through a public notice. The RBI however informed the public that arrangement have been made for exchange of these coins for their face value at All Issue Offices of RBI and all the Banks that are maintaining small coin depots during the working days and business hours till the close of business on June 30 next. The same will not be accepted for exchange from July 1 onwards, it informed.

 
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