RBI advises banks to accept coins of all denominations

The Reserve Bank has appealed all banks to accept coins of all denominations tendered at their counters. It asked them to continue to accept these coins as legal tender in all their transactions without any hesitation.

New Delhi: The Reserve Bank of India (RBI) has advised all banks to immediately direct all their branches to accept coins of all denominations.

RBI's advisory on Wednesday came after it received complaints about non-acceptance of coins by branches of various banks.

Therefore, it has advised all banks to accept coins of all denominations tendered at their counters for transactions or exchange and ensure strict compliance in the matter.