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Our Bureau

Chennai , March 4

THE Reserve Bank of India today directed banks to "immediately instruct their branches" to accept coins of all denominations from any member of public.

If banks find it difficult to count large number of coins, they should buy coin-counting machines or accept coins by weight, RBI has said in a circular to banks.

The instruction follows complaints from traders that banks are not accepting coins when they are deposited into their (traders') accounts. The issue had been taken up with the Banking Ombudsman in Chennai, by the Tamilnadu Chamber of Commerce and Industry, Madurai. In a letter to the chamber, the RBI's General Manager, Ms Parvathy V. Sundaram, has said, "We have advised all currency chests in Tamil Nadu and Pondicherry by means of a circular to take special initiatives to implement our instructions."

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