Singhbhum Chamber seeks RBI intervention on coins

Business, Corporate, Jamshedpur No Comments on Singhbhum Chamber seeks RBI intervention on coins 44

Jamshedpur: The general secretary of Singhbhum Chamber of Commerce and Industry, Vijay Anand Moonka has written to the RBI Governor seeking his instructions to local banks to accept coins deposited by the city traders.
In the letter to Urjit Patel, Moonka alleged that the majority of banks in the city were unwilling to accept coins having the denomination of Rs 2, Rs 5 and Rs 10. As a result of the refusal by banks, the traders have gathered a huge amount of coins worth several lakhs.
Moonka said the RBI governor should order the bank authorities to accept the coins in the larger interest of the trader community. He said the banks should hold special camps to deposit the coins.

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