You can also deposit coins into a bank account, this is the RBI rule

Nut News Desk !!! If you have more coins, this information is very important to you. Because you must have heard that a man arrives in the showroom to buy a car with a coin of millions of rupees. Coins are actually an important part of the Indian currency. Currently we use it in our daily lives. But do you know how many coins you can deposit in your bank account. What do you think of this RBI rule? The Reserve Bank of India is responsible for issuing currencies in the country. Right now, coins of one rupee, two rupees, five rupees, ten rupees and twenty rupees are issued in the country. In terms of the Mintage Act 2011 Rs. Coins of 1000 value can be issued. All other values ​​issued by the Government of India under the Coin Construction Act 2011 as a legal tender, the coins of the theme and design and all other values ​​issued by the Reserve Bank of India from time to time. There is no upper limit, with regard to deposit coins in your bank account, says the Reserve Bank of India that no limit has been set by customers to deposit coins in banks. Banks are free to accept any coins from their customers. This means that you can deposit any amount in your bank account as coins. There is no maximum limit for this. If you have coins worth millions of rupees. You can still deposit easily in your account. If a bank does not accept coins, you can also complain about it. The design of coins is decided on the basis of an annual question from the Reserve Bank of India. In addition, the Government of India is also responsible for the cast and design of coins of different price ranges. If you want to exchange coins, you can convert them into any bank branch. According to the Reserve Bank, the public can continue to accept all coins as a valid currency in all their transactions. If someone refuses to take a bank and coins, you can act against the bank by visiting the official IBI website. Share this story -tags