The Central Government and RBI have made an important decision regarding the 5 rupee coin. A specific type of 5 rupee coin is being withdrawn from circulation.
Online transactions have become easier with the creation of Digital India. Nowadays, many people use apps like GPay and PhonePe instead of carrying cash. At the same time, there is always a problem in carrying small coins. Many people do not like to keep a lot of change.
The Central Government and RBI have made an important decision regarding coins. A specific coin is being withdrawn from circulation. Information has been released that the 5 rupee coin is going to be declared invalid. The Central Government decides how many coins should be produced in a year.
Instructions will then be given to the Reserve Bank. If a coin or rupee note is withdrawn from circulation or newly issued, the approval of the Central Government is required for the Reserve Bank.
Currently, coins from 1 rupee to 20 rupees are in circulation. In this situation, information suggests that the 5 rupee coin is going to be withdrawn from circulation. Various types of 5 rupee coins are in circulation in India. There are coins made of brass and a thicker metal.
Currently, the number of thicker coins has decreased. Also, 5 rupee coins made of thicker metal are not being produced.
Only brass coins are in circulation. But do you know why these coins are not being produced?
There is a big reason why the production of thicker 5 rupee coins is being stopped. Thick metal is required to make these coins. 4 or 5 blades can be made from this one coin. Thus, many people do blade business. Crores of rupees of business is happening.
Many people make blades from coins. This is why the government has taken this decision. Currently, thicker 5 rupee coins are not being produced. The Central Government and RBI have taken this decision. Only brass 5 rupee coins will be in circulation. Thicker 5 rupee coins will not be available. If you have thicker 5 rupee coins, you don't need to worry. There is no need to deposit them in the bank.
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