Bhopal: Following the Reserve Bank of India (RBI) decision to demonetize 25 paise coins, 5 lakhs coins were collected in the banks of Bhopal before the deadline of June 30. However, many banks refused to accept the coins out of some misconceptions over RBI guidelines.


Before the deadline as many as five lakh 25 paise coins were deposited in various banks. Currency Chest Manager of Punjab National Bank, Anil Jain told that more than 80,000 coins were collected by his bank. Likewise, coins were collected in various Currency Chests of Sultania, TT Nagar, Shahpura and H.E.T based branches of State Bank of India.


According to an assessment, a total of 1.50 lakh coins of 25 paise were collected by the various branches of SBI.


Sources say that apart from SBI and PNB other national banks collected about 2.70 lakh coins.


After completing the process, 25 paise coins have now become a thing of past.

(JPN/Bureau)