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25-50 paise coins valid: RBI
October 25, 2004 19:10 IST
Last Updated: October 25, 2004 19:54 IST
The Reserve Bank of India on Monday said that it had come across news reports and had also been receiving several complaints regarding non acceptance of 25 paise and 50 paise coins by shopkeepers, traders and transport undertakings.
"Such complaints are based on misinformation that these coins have ceased to be legal tender", a RBI release said.
It said that people should not believe rumours that the coins of 25 paise and 50 paise have been withdrawn by the RBI.
"These coins are legal tender and will continue to be so. The Reserve Bank and all commercial banks will continue to freely accept all the coins for exchange in bank notes," it added.