Central Banking

RBI to use post offices for coin distribution

INDIA - The Reserve Bank of India is planning to distribute coins in exchange of currency notes through post offices and even railway counters, the Hindu newspaper reports. The decision is part of its efforts to bridge the gap between excess demand from the public and the over-supply in the apex bank.

"We are planning to distribute coins through post offices. We are talking to the Chief Post Master General in this regard," a senior RBI official said here today.

The Central Bank has started this