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Two thousand rupee notes are being deposited in banks as they are out of circulation. Banks have different rules for depositing these notes. At the same time, RBI has also issued a guideline regarding this, but if you go to deposit the coin in a bank, then some rules have also been made. So let’s find out how many coins you can collect at one go?
Coins of 1, 2, 5, 10 and 20 are currently in circulation in the Indian market. However, since the introduction of digital payment facility, the use of these coins has decreased. Most of the people are paying between 10 to 20 rupees through UPI. In such a situation, coins are less visible in the market.
In which denominations coins can be issued?
All these coins are issued by RBI. Coins up to Rs 1000 can be issued under the Coinage Act 2011. The government decides how many coins to be issued to the RBI in a year. The government is also responsible for fixing the price and preparing the design. The government has also decided the design of the coins which are in circulation now.
How many coins can be deposited in the bank?
No limit has been set in this regard by the Reserve Bank of India. That is, you can deposit any number of coins in the bank. The Bank can accept any coin of any denomination from the customers. You can deposit any number of coins in your account by visiting the bank as per RBI guidelines. However, this coin must be legal tender.
According to the information given by RBI, coins can be deposited in any bank. No bank can refuse for this. If this happens, you can complain about it on the RBI portal.
