Coin exchange melas to be conducted in 314 blocks across Odisha

Coin exchange mela (drive) to be conducted across 314 blocks of Odisha, said reliable reports in this regard on Wednesday. 

Bhubaneswar: Coin exchange melas (drives) to be conducted across 314 blocks of Odisha, said reliable reports in this regard on Wednesday.

According to Sarada Prasanna Mohanty, the Regional Director of Reserve Bank Bhubaneswar branch, the coin exchange mela start from the first week of December and will continue for the next three months.

Coins of fifty paise to twenty rupees can be exchanged during the exchange mela drive, Mohanty said adding that even torn and dirty notes can also be replaced.

The RBI authorities further appealed people not to believe any rumour as such coins will continue to remain legal tender.

Further it is worth mentioning that, endless queues have been seen in front of RBI Bhubaneswar to deposit Rs. 2000 notes since almost more than a month said reliable reports on Wednesday.

According to reliable reports, brokers are charging a commission for the exchange of Rs. 2000 notes, poor people are being hired to exchange the money. They are allegedly demanding Rs. 200 for every two thousand rupees note deposited.

It is worth mentioning that a two-member EOW team had reached in front of the RBI Bhubaneswar to enquire from where people have got the money and other details thereof. They are also checking the Aadhar Cards of those in the queue.

Furthermore, the ED team has also arrived at the spot to question the people in the queues in RBI Bhubaneswar. They are investigating about the sources of the money and from where it has been obtained, said reliable reports.

The Reserve Bank of India (RBI) had granted an extension for the exchange or deposit of Rs 2000 banknotes, originally taken out of circulation on May 19, 2023. The deadline for the withdrawal process was initially set for September 30, 2023. However, in a recent review, the RBI has decided to extend the period until October 7, 2023.

Individuals who have not yet exchanged or deposited their Rs 2000 notes still have the opportunity to do so until the new deadline.

Banks will remain open on this 5th Saturday, allowing people to visit their nearest branch for the exchange or deposit. Additionally, regional branches of the RBI are also available for this purpose.

Even those without bank accounts can partake in the exchange, with a limit of Rs 20,000 per transaction at any bank branch. After September 30, although the notes will still be considered legal tender, they will no longer be accepted for transactions and can only be exchanged with the RBI.

Also Read: Odisha STA Says ASI Cannot Collect Fines And Issue E-Challans

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