Banks Rejects Coin Transaction Despite RBI Order for Acceptance

By Supriyo Basak (TNI Dhupguri) | TNI Editing Siliguri

Webdesk, TNI Dhupguri 30^th June, 2017: The coin problem has risen in Jalpaiguri district especially in Dhupguri area. The small businessmen and traders have to do their transaction with the customers by using coins whereas the bank officials are denying coins in their counters. Mr. Rajib Sarkar, a small trader from East Magurimari area of Dhupguri went to deposit an amount of Rs. 1000/- at SBI Dhupguri Branch. He, however, was denied by the counter cashier citing top official instruction not to accept coins for the transaction. The problem is not only with SBI but almost all other bank branches of Dhupguri. The Bank manager did not allow the reporters to even enter his chamber when they went to get the manager’s viewpoint. The traders are complaining that during this time when the traders are in a transition situation of the Tax reforms due to the implementation of GST the banks have started a new problem of not accepting coins. Mr. Rajib Sarkar has registered a verbal complaint at the Dhupguri Police Station. TNI contacted with the Leading District Manager (LDM) of Jalpaiguri district Mr. Gour Chakraborty. Mr. Chakraborty told TNI that a bank has to accept coins with valuation Rupee One if a person wants to deposit an amount of Rs. 1000 or below in any circumstances. Secondly, coins with denominations of below Rupee One has to be accepted by the banks if the total valuation of the deposit is upto Rs. 10 or below.

Photo: Supriyo Basak (TNI)