The Telegraph
Since 1st March, 1999
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Currency counter at post offices

Ranchi, April 1: Want to exchange torn currency for fresh ones or want coins for notes of high denomination, then head to the post office.

Now, post offices across the state are ready to play an extended arm to the Reserve Bank of India (RBI).

Previously carried out carried out only by the treasury branches of the State Bank of India (SBI), apart from the Ranchi unit of the RBI, these financial services would now be offered by select post offices from late April.

In Ranchi, the services would be available at the head post office (Doranda) and General Post Office (GPO) near Shahid Chowk of Ranchi. Some select post offices in Jamshedpur, Dhanbad, Bokaro and Deoghar would also offer this service.

“This is a gift from the postal department. We would soon be opening special counters at select post offices where people can exchange torn currency for new ones,” said Anil Kumar, director, postal services, Jharkhand circle. He said the “financial role” role of the post offices has been visualised with the purpose of serving the public.

“Once this service becomes popular, we would extend it to several other post offices across the state,” Kumar added.

At present, treasury branches of the SBI located at Doranda and Hatia are the only branches that offer the facility of exchanging torn currency notes.

The postal department would be charging the RBI for its new financial function and for the public this service would come free of cost.

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