25 paise, or ‘chavanni’, is dead (Lead)
June 29th, 2011 - 6:28 pm ICT by IANSMumbai, June 29 (IANS) The 25 paise coin, popularly known as ‘chavanni’ and which first came into being in 1950, died an official death Wednesday.
According to the Reserve Bank of India (RBI), Wednesday was the last day when the 25 paise coin held legal value.
“The coins of denomination of 25 paise and below will cease to be legal tender from June 30,” an official said.
These would not be accepted for exchange at bank branches from Friday.
On Thursday too, the banks would not exchange 25 paise coins as the central government invoked section 15A of the Coinage Act, 1906, and withdrew them from circulation from June 30, an RBI spokesman said.
With the end of the era for 25 paise coins, the 50 paise (half a rupee) shall now be the lowest denomination coin in public circulation.
Other coins include those of denominations Rs.1, Rs.2, Rs.5 and Rs.10.
Most small denomination coins - 1 paise, 2 paise, 3 paise, 5 paise and 10 paise - vanished from circulation a long time ago because the government found the cost of minting them many times more than their face value.
- 'Chavanni' no more after June 30 - Jun 29, 2011
- No more 25 paise coins from June 30 - May 18, 2011
- India decides to cast 'chavanni' to history - Dec 30, 2010
- Seven years jail for melting, destroying coins - Mar 25, 2011
- RBI to issue new coins - Jul 22, 2011
- RBI to issue special coins on century of civil aviation - Dec 27, 2011
- RBI to issue new Rs.5 and Rs.2 coins with Games logo - Oct 11, 2010
- RBI to probe illegal coins circulated in Mumbai markets - Jan 24, 2012
- Pakistan to demonetize Rs.5 note by Dec 31 - Oct 29, 2011
- Taking steps to curb fake notes: Pranab - Jan 07, 2012
- Ordinance on near-extinct Rs.1 note survives seven decades - Sep 12, 2010
- Rajya Sabha passes bill consolidating all laws on mints, coins - Aug 11, 2011
- Peace at last in parliament, crucial bills passed (Lead) - Aug 11, 2011
- Ten rupee coin to be made available - Aug 03, 2008
- Delhi Police bust coin melting gang - Jan 07, 2011
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