Exchange melas announced for coins and damaged notes across Odisha by RBI
Bhubaneswar, Nov 29: In response to concerns over traders rejecting coins ranging from 50 paise to Rs 20, the Reserve Bank of India's (RBI) regional office in Bhubaneswar clarified on Wednesday that these coins are legal tender for both transactions and accounting purposes.
Regional Director Sarada Prasanna Mohanty, in a media address, stressed the need to debunk rumors about the effectiveness of certain coins and urged the public to deposit them in banks, emphasizing that no bank has the authority to refuse coin acceptance from customers.
Mohanty further announced that the regional RBI office has launched a comprehensive campaign to exchange coins, torn, damaged, and soiled notes across all 314 blocks of Odisha. The initiative, named "melas," will unfold in rural marketplaces throughout the state over the next two to three months, starting in the first or second week of December.
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