Coin Deposit in Bank Rules: Since the notes of two thousand rupees are out of circulation, it is being deposited in banks. 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 the bank, then some rules have also been made regarding this. Let’s know how many coins you can deposit together?
One, two, five, ten and 20 coins are currently in circulation in the Indian market. However, since the introduction of digital payment facility, the use of these coins has reduced. Most people are paying up to Rs 10 and Rs 20 through UPI. In such a situation, fewer coins are being seen in the market.
Up to what denomination coins can be issued?
All these coins are issued by RBI. Coins up to Rs 1000 denomination can be issued under the Coinage Act 2011. How many coins are minted towards RBI in a year, it is decided by the government. It is also the responsibility of the government to determine the price and prepare the design. The design of the coins which are in circulation now has also been decided by the government.
How many coins can be deposited in the bank?
No limit has been fixed on this by the Reserve Bank of India. This means that you can deposit any number of coins in the bank. The bank can accept any number of coins of any amount from the customers. According to the guidelines of RBI, you can deposit coins of any amount in your account by going to the bank. Although this coin should be valid currency.
