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Thursday, Sep 02, 2004
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RBI clarification on coins

Our Bureau

THIRUVANANTHAPURAM: The regional office of the Reserve Bank of India (RBI) has clarified that all coins, including those of 25 paise and 50 paise denominations, are legal tender and will continue to be so.

An official spokesman said here that the clarification was being issued in the context of reports suggesting that shopkeepers, traders, transport undertakings and Government departments were refusing to accept the coins on misplaced belief that they had ceased to legal tender and were not accepted by banks.

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