RBI advises the bank to accept the coins of every denomination . For mutilated and damaged notes RBI said the notes so presented shall be accepted, exchanged and adjudicated in accordance with Reserve Bank of India (Note Refund) Rules 2009.
Read moreDoes India have 100 rupees coin?
Prime Minister Narendra Modi has today released a commemorative coin of Rs 100 (Rs 100 Coin) through a virtual program . This coin has been issued by PM Modi in honor of Vijaya Raje Scindia. Vijaya Raje Scindia is known as the Rajmata of Gwalior.
Read moreWhat is limited legal tender money?
When the legal tender can be accepted without any limit, then it is known as unlimited legal tender, when the legal tender is accepted with a certain maximum limit then it is known as limited legal tender.
Read moreWhich coins are valid in India?
Coins in India are presently being issued in denominations of 10 paise, 20 paise, 25 paise, 50 paise, one rupee, two rupees and five rupees . Coins upto 50 paise are called ‘small coins’ and coins of Rupee one and above are called ‘Rupee Coins’.
Read moreCan coins be exchanged for cash in India?
The RBI Offices, where Issue Department is functioning, offer the facility to members of the public to exchange their notes including soiled and mutilated notes and coins including uncurrent or worn out coins . The Bank is committed to provide exchange facility free of cost at its counters during business hours.
Read moreIs 50 paise coin legal in India?
Coins of All Denominations are Legal Tender – RBI It is clarified for the benefit of public that all coins including 25 paise and 50 paise coins are legal tender and will continue to be so.
Read moreWhen did India ban 50 paise?
On 30 June 2011 , when the 25 paisa and all other lower denomination coins were officially demonetised, the 50 paise coin became the lowest circulating denomination of the Indian rupee.
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