RBI pumps in more coins

Traders may not have to bicker with busy shoppers for loose change this festive season. On Saturday, Reserve Bank of India, Chennai region, pumped in coins worth nearly Rs. 30 lakh into busy trade hubs across the city.

Traders may not have to bicker with busy shoppers for loose change this festive season.

On Saturday, Reserve Bank of India, Chennai region, pumped in coins worth nearly Rs. 30 lakh into busy trade hubs across the city. This is intended to meet the heavy demand ahead of Deepavali.

For the first time, RBI has tied up with banks across the city to organise camps where people can obtain coins and also exchange soiled and mutilated currency notes.

About 3,000 people exchanged coins and currency notes worth Rs. 1.31 crore in the camps held at six different places across the city.

Last week, a camp was held at Koyambedu market where traders exchanged coins worth Rs. 20 lakh.

RBI officials said nearly 400 customers exchanged soiled currency notes and coins worth Rs. 41 lakh at the Purasawalkam camp. In the camps at Tambaram and Parrys Corner, about 1,050 people exchanged coins and currency notes worth Rs. 31 lakh.

An official said, “We also conducted camps at T. Nagar and Washermenpet. The banks issued pamphlets that helped in huge turnout at the camps. We have asked the banks to dedicate a couple of days every week to conduct such camps.”