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Andhra Pradesh
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Hyderabad
No shortage of coins, says Reserve Bank of India
Special Correspondent
HYDERABAD: The Reserve Bank of India (RBI) here on Thursday announced that apart from the 25 authorised ‘coin dispensing centres’ across the State, it would soon open 141 more branches of different commercial banks.
At a press conference, R. Gandhi, Regional Director, RBI, clarified that while there was no shortage as expressed by some sections of society, they were making all efforts to see that there was no ‘shortage’ of coins especially of Re.1 denomination.Fielding questions, the official however admitted that since April 1 this year, ever since the implementation of the VAT regime in the State, the demand for small change rose sharply.
Until the recent past, he said the RBI was indenting from the Government Mints and dispensing about 400 bags (200 each of coins of the denomination of Re. 1 and Re. 2) every day. Mr. Gandhi said the public could approach the Regional Directors in the concerned RBI offices in case of difficulty
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