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With the Government of India deciding to withdraw coins of denomination of 25 paise and below from circulation with effect from June 30, 2011, the Reserve Bank of India on Tuesday asked 45 banks maintaining small coin depots to arrange for exchange of these coins for their face value at their branches. The exchange facility will also be available at all Issue Offices of the RBI. From June 30, these coins shall cease to be legal tender for payment as well as on account. The RBI said coins of denomination of 25 paise and below will not be accepted for exchange at the bank branches from July 1, 2011 onwards. ends
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