The Hindu : Karnataka News : Sufficient coins being supplied, says RBI

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Friday, Aug 17, 2007
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Karnataka

Karnataka

Sufficient coins being supplied, says RBI

Staff Reporter

BANGALORE: The Reserve Bank of India Regional Director for Karnataka Devaki Muthukrishnan clarified on Thursday that there was no shortage of coins.

Dismissing persistent buzz to the contrary, she said the bank had despatched coins worth Rs. 5.96 crore since April to 185 designated banks and their branches in the State and there was adequate stock of coins with the RBI’s regional office here.

Ms. Muthukrishnan said four coin vending machines were functioning and the demand for bulk supply was cleared without delay.

The public may approach the designated bank branches or the RBI regional office for coins.

In addition to this, GPO and post offices in Rajajinagar, Yeshwanthpur, Malleswaram and Basavanagudi had begun distributing coins free of cost from Thursday. This was done on an experimental basis and if proved efficient, it would be extended to other post offices too.

Designated branches

In Bangalore, she said, coins were available in Canara Bank in RMV Extension, State Bank of India in Hebbal and St. Marks Road, Andhra Bank in Chamarajpet, Bank of Maharashtra in Basavangudi, Syndicate Bank in Gandhiangar, Dena Bank in Peenya, HDFC Bank Richmond Road, Bank of Baroda on Siddaiah Road, State Bank of Travancore, ICICI Bank and UTI Bank.

In Bangalore rural district, State Bank of India branches in Kanakapura, Anekal, Channapatna, Magadi, and Ramanagaram were the designated branches.

Fifteen bank branches were distributing coins in Uttara Kannada followed by 13 each in Belgaum and Mysore district; 12 in Kolar district; 11 in Tumkur district; nine each in Hassan and Dakashina Kannada districts including five in Mangalore city; eight each in Bijapur and Raichur districts, seven each in Bellary, Mandya, Davangere and Udupi districts, six in Kodagu and Bidar districts; five each in Gulbarga and Dharwad districts including four in Hubli town and the State Bank of India branch in Dharwad town; three each in Gadag and Koppal districts; two in Chamarajanagar district, and the SBI branch in Hangal in Haveri district, according to the press release..

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