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Our Bureau

Mumbai , April 19

BANKS will no longer have the burden of counting coins in large numbers. The public can now tender coins at the counters of public and private sector banks as also at the RBI's counters.

Banks as well as the Reserve Bank of India will accept current coins and coins that are no longer in circulation by weight, said a release issued on Monday.

The RBI has advised all the branches of public/private sector banks in Mumbai city to accept, by weight, aluminium coins of 5 paise, 10 paise, 20 paise, aluminium bronze coins of 10 paise, stainless coins of 10 paise, cupronickel coins of 25 paise, 50 paise and Re 1 denominations.

The RBI has requested the public having stock of such coins to tender them, denomination-wise and metal-wise, over the counters in lots of 100 coins in polythene sachets. Similar arrangements also exist for acceptance of current stainless steel coins of 25 paise, 50 paise and Rs 1 and cupronickel coins of Rs 2 and Rs 5, said the release.

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