Acting on the SOS sent by the Singhbhum Chamber of Commerce & Industry (SCC&I), the Reserve Bank of India (RBI) has recently dispatched coins worth Rs 46.41 lakh to meet the acute scarcity in the region.
There has been an acute scarcity of coins, especially of denominations of Re 1, Rs 2 and Rs 5, for some time now in the districts of this Kolhan region comprising East Singhbhum, West Singhbhum and Seraikela-Kharswan.
According SCC&I secretary (trade & commerce) Bharat Vasani, RBI Patna deputy general manager (DGM) Aditya Kishwar has written to the chamber that the apex bank has, as a first measure, sent coins worth Rs 46.41 lakh to four chest branches of three public sector banks in the region.
While coins worth Rs 16.16 lakh has been sent to the SBI Telco branch, the main branch of Bank of Baroda has received coins worth Rs 14 lakh. Central Bank of India?s main branch got Rs 13 lakh in coins and SBI Jaduguda Rs 3.25 lakh worth of coins.
Speaking to FE, Vasani said, ?RBI Patna has assured us that they will send more coins to the (coin) chests very soon.? SCCI general secretary Suresh Sonthalia alleged that the bank chests were not properly distributing the coins to various trade groups in the business community.