December 31, 2010 1:24 PM

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Fifty paise will be minimum denomination coin accepted for transactions in the country

Fifty paise will be the minimum denomination coin accepted for transactions in the country from the end of June next year. A Finance Ministry release said that from this date, 25 paise coins and below such denomination shall cease to be a legal tender. In accounting, pricing of products, services, and taxes will also be rounded off to 50 paise or whole rupee. It said, the procedure for call in of the coin will be notified separately by the Reserve Bank of India.

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