The RBI has also determined to call in from circulation coins of denomination of 25 paise and below with effect from June 20, 2011.
The Reserve Bank of India will soon put new coins of Rs. 10 denomination into circulation to felicitate its Platinum Jubilee.
The front face of the coins will have the Ashoka Pillar embossed in their centre, an RBI release said. The reverse will bear the emblem of the Reserve Bank of India, a palm tree tiger, along with the year “1935-2010” below the emblem, it said.
Meanwhile, the RBI said the government of India, in exercise of powers conferred by Section 15-A of the coinage Act, 1906 (3 of 1906), has determined to call in from circulation coins of denomination of 25 paise and below with effect from June 20, 2011.
From this date, these coins shall cease to be legal tender for payment, as well as on account.
Accordingly, such coins may be exchanged during working days and business hours at the authorised banks branches by July 1, 2011, after which they will not be accepted, it said.