Sinlung /
25 March 2011

RBI To Address Manipur's Small Denomination

rbiImphal, Mar 25 : The Reserve Bank of India (RBI) has promised to resolve the acute shortage of small denomination and coins in Manipur.

The state's economy has been hit by the crisis and people have to settle for chewing gums or match boxes in return for an amount between Re 1 to Rs 5.

It is also not difficult to find women coin vendors' selling coins at places like Khwairamband Bazaar in Imphal.

RBI executive director DK Mohanty took note of the issue at a press meet at Ukhrul town on Monday and said he would take steps to ensure the smaller denomination shortage gripping Manipur was resolved.

Mohanty added that since the coins were flown into the state, efforts would be made to increase the number of flights so that the crisis is dealt with.

The RBI executive director was speaking at a financial outreach camp organized by the bank at Ukhrul.

With the primary target to expand banking facilities in the northeast, RBI , which has its office in Guwahati, has planned to set up a unit in Agartala, Mohanty said.

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