If you have certain types of coins of 1 rupee and 50 paise, then they will not be issued again after depositing them in the bank.
Image Credit source: Betul Media
Old Coins : If you have deposited coins of 1 rupee and 50 paise, then there is important news for you. In fact, the country’s second largest private bank has pasted a notice outside a branch in Delhi that if you have certain types of 1 rupee and 50 paise coins, they will not be reissued after depositing them in the bank. ICICI Bank (ICICI BankAccording to a notice put up by a branch of This means that once deposited with the bank, they will not be re-issued by the bank. These coins are issued by the Reserve Bank of India (Reserve Bank of India) will be taken back from the respective banks.
According to the report published in the Economic Times, these coins are legally valid, but these coins are now being taken out of circulation, because these coins are now very old and in the 1990s and early 2000s among the common people These coins used to be used, but now these coins will not work. These coins are not for reissue under RBI instructions.
Will get new design coins
According to the guidelines of RBI, these old coins are definitely being taken out of circulation, but they can be used for transactions, that is, they are still considered legal. That once you deposit these coins with the bank, they will not be re-issued for transactions, but new design coins will be provided to you for transaction purposes.
what are these coins
- 1 rupee cupronickel coins
- 50 Paise Cupronickel Coins
- 25 Paise Cupronickel Coins
- 10 Paise Stainless Steel Coins
- 10 paise aluminum bronze coin
- 20 paise aluminum coin
- 10 paise aluminum coin
- 5 paise aluminum coin
RBI gave instructions to banks
ICICI Bank branch notice clarifies that all coins of 50 paise, Re 1, Rs 2, Rs 5, Rs 10 and Rs 20 of various sizes, themes and designs issued by the government from time to time shall continue to be legal tender. In a 2004 circular, the RBI instructed banks to take back old coins up to Re 1/- made of cupro-nickel and aluminium, and send them to mints for melting. The Government of India has decided to withdraw coins of denomination 25 paise and below from circulation with effect from the end of June 2011. After this, these coins are not legally valid for payment as well as in the account.
English News Headline : RBI Bank issued notice on these coins after 1000 and 500 notes.