ICICI Bank organises Coin Exchange Mela at Mani Majra, Chandigarh

Swaswati Borpuzari · Feb 2, 2025

ICICI Bank Organises Coin Exchange Mela at Mani Majra, Chandigarh

In an initiative aimed at enhancing financial literacy and convenience for the local community, ICICI Bank recently organized a Coin Exchange Mela at Mani Majra, Chandigarh. The event, which took place on a sunny weekend, saw a significant turnout of residents, eager to exchange their old and unused coins for new ones. This mela not only provided a platform for the exchange of coins but also served as an educational opportunity for the community to learn more about the importance of financial management and the role of banks in their daily lives.

Purpose of the Mela

The primary goal of the Coin Exchange Mela was to address the common issue of households accumulating old and unused coins that often end up in jars or piggy banks. These coins, while small in value, can add up over time and create a logistical challenge for both individuals and financial institutions. By organizing this event, ICICI Bank aimed to streamline the process of coin management and encourage the community to make better use of their financial resources.

Event Details

The mela was held at the bustling market area of Mani Majra, making it easily accessible to a wide range of residents. The venue was decked with banners and posters, clearly indicating the purpose and benefits of the event. ICICI Bank set up several counters where participants could bring their coins and exchange them for equivalent notes or new coins. The bank also provided a convenient digital weighing system to ensure a quick and accurate assessment of the coins.

Community Response

The community response to the Coin Exchange Mela was overwhelmingly positive. People from various age groups, including children, adults, and seniors, brought their coin collections to the event. Many expressed their appreciation for the initiative, noting that it was a hassle-free way to organize and manage their loose change. Children, in particular, were excited to see their piggy bank savings turned into crisp new notes.

Financial Literacy Workshops

In addition to the coin exchange, ICICI Bank organized a series of financial literacy workshops. These workshops were designed to educate the community on various financial management topics, such as saving, budgeting, and the benefits of digital banking. Financial experts from the bank conducted these sessions, providing practical tips and answering questions from attendees. The workshops were particularly beneficial for the younger generation, who are increasingly becoming aware of the importance of financial planning.

Promoting Digital Transactions

Another key aspect of the mela was the promotion of digital transactions. ICICI Bank representatives encouraged participants to open digital banking accounts and provided guidance on how to use mobile banking apps. They highlighted the convenience and security of digital transactions, especially in light of the ongoing digital transformation in India. Many residents took this opportunity to sign up for digital services, marking a significant step towards a cashless economy.

Environmental Impact

The bank also emphasized the environmental benefits of the coin exchange. By recycling old coins and encouraging digital transactions, ICICI Bank is contributing to a reduction in paper waste and the carbon footprint associated with the production and transportation of currency. This aligns with the bank's broader commitment to sustainable practices and community welfare.

Future Plans

The success of the Coin Exchange Mela in Mani Majra has inspired ICICI Bank to consider organizing similar events in other parts of Chandigarh and beyond. The bank plans to collaborate with local authorities and community leaders to identify areas where such initiatives can have the most impact. Additionally, ICICI Bank is exploring ways to integrate these events with other community outreach programs, further enhancing their reach and effectiveness.

Conclusion

The Coin Exchange Mela organized by ICICI Bank at Mani Majra, Chandigarh, was a commendable effort to promote financial literacy and convenience. By providing a platform for coin exchange and educational workshops, the bank not only helped the community manage their financial resources better but also took a step towards building a more financially aware and digitally integrated society. The positive response from the community underscores the importance of such initiatives and the role that financial institutions can play in fostering economic well-being and sustainability. ICICI Bank's commitment to these goals is a shining example of how corporate social responsibility can make a tangible difference in people's lives.

Subiksha Anand · Jun 21, 2025

Swaswati Borpuzari said:
ICICI Bank Organises Coin Exchange Mela at Mani Majra, Chandigarh
In an initiative aimed at enhancing financial literacy and convenience for the local community, ICICI Bank recently organized a Coin Exchange Mela at Mani Majra, Chandigarh. The event, which took place on a sunny weekend, saw a significant turnout of residents, eager to exchange their old and unused coins for new ones. This mela not only provided a platform for the exchange of coins but also served as an educational opportunity for the community to learn more about the importance of financial management and the role of banks in their daily lives.

Purpose of the Mela
The primary goal of the Coin Exchange Mela was to address the common issue of households accumulating old and unused coins that often end up in jars or piggy banks. These coins, while small in value, can add up over time and create a logistical challenge for both individuals and financial institutions. By organizing this event, ICICI Bank aimed to streamline the process of coin management and encourage the community to make better use of their financial resources.

Event Details
The mela was held at the bustling market area of Mani Majra, making it easily accessible to a wide range of residents. The venue was decked with banners and posters, clearly indicating the purpose and benefits of the event. ICICI Bank set up several counters where participants could bring their coins and exchange them for equivalent notes or new coins. The bank also provided a convenient digital weighing system to ensure a quick and accurate assessment of the coins.

Community Response
The community response to the Coin Exchange Mela was overwhelmingly positive. People from various age groups, including children, adults, and seniors, brought their coin collections to the event. Many expressed their appreciation for the initiative, noting that it was a hassle-free way to organize and manage their loose change. Children, in particular, were excited to see their piggy bank savings turned into crisp new notes.

Financial Literacy Workshops
In addition to the coin exchange, ICICI Bank organized a series of financial literacy workshops. These workshops were designed to educate the community on various financial management topics, such as saving, budgeting, and the benefits of digital banking. Financial experts from the bank conducted these sessions, providing practical tips and answering questions from attendees. The workshops were particularly beneficial for the younger generation, who are increasingly becoming aware of the importance of financial planning.

Promoting Digital Transactions
Another key aspect of the mela was the promotion of digital transactions. ICICI Bank representatives encouraged participants to open digital banking accounts and provided guidance on how to use mobile banking apps. They highlighted the convenience and security of digital transactions, especially in light of the ongoing digital transformation in India. Many residents took this opportunity to sign up for digital services, marking a significant step towards a cashless economy.

Environmental Impact
The bank also emphasized the environmental benefits of the coin exchange. By recycling old coins and encouraging digital transactions, ICICI Bank is contributing to a reduction in paper waste and the carbon footprint associated with the production and transportation of currency. This aligns with the bank's broader commitment to sustainable practices and community welfare.

Future Plans
The success of the Coin Exchange Mela in Mani Majra has inspired ICICI Bank to consider organizing similar events in other parts of Chandigarh and beyond. The bank plans to collaborate with local authorities and community leaders to identify areas where such initiatives can have the most impact. Additionally, ICICI Bank is exploring ways to integrate these events with other community outreach programs, further enhancing their reach and effectiveness.

Conclusion
The Coin Exchange Mela organized by ICICI Bank at Mani Majra, Chandigarh, was a commendable effort to promote financial literacy and convenience. By providing a platform for coin exchange and educational workshops, the bank not only helped the community manage their financial resources better but also took a step towards building a more financially aware and digitally integrated society. The positive response from the community underscores the importance of such initiatives and the role that financial institutions can play in fostering economic well-being and sustainability. ICICI Bank's commitment to these goals is a shining example of how corporate social responsibility can make a tangible difference in people's lives.

It’s always interesting to see how large institutions like ICICI Bank take initiatives that directly engage with the everyday financial needs of the public, and the Coin Exchange Mela is a great example of that. This event, held under the guidance of the Reserve Bank of India, is not just a routine banking operation—it represents a much-needed touchpoint between formal banking and grassroots-level financial accessibility. While on the surface, it may appear to be a simple note-for-coin exchange, its significance runs deeper. For starters, coins continue to be essential in daily transactions, especially for small vendors, public transport users, and people who rely on exact change for minor purchases. Yet, there’s often a shortage in circulation due to hoarding or lack of availability at local banks. That’s why initiatives like this, where coins are distributed freely in exchange for notes, are not only helpful but also contribute to the smooth functioning of the microeconomy.

Moreover, the involvement of RBI officials like Mr. Sanjay Bhatia and Mr. P.K. Lamba adds a layer of credibility and formality to the event. Their presence reflects RBI’s continued efforts to promote financial literacy, transparency, and inclusivity at the ground level. Events like this subtly reinforce public confidence in the banking system, particularly when the central bank’s representatives engage directly with common citizens. The fact that it received overwhelming participation also suggests that such services are still very much needed and appreciated, perhaps even more so in a digital age where the focus is often disproportionately tilted toward cashless transactions. While mobile banking and digital wallets have gained immense popularity, it’s vital not to forget the needs of those who still deal with physical currency. This is especially true for small traders, elderly citizens, and others who may not be as tech-savvy or comfortable with digital platforms.

From a strategic point of view, this initiative also showcases ICICI Bank’s commitment to community-focused banking. It’s not just about balance sheets and profit margins; it’s about building goodwill, trust, and accessibility. With over 3,500 branches and 11,000 ATMs across the country, ICICI already has a robust presence, but events like the Coin Mela add a personal touch to their service matrix. The Bank’s multi-channel delivery—spanning ATMs, internet banking, call centers, and traditional branches—is clearly designed to serve both tech-savvy urbanites and people who still prefer face-to-face banking. And on a broader scale, this kind of inclusive banking activity is in line with the financial inclusion goals laid out by the RBI and the Government of India.

ICICI Bank’s extensive footprint and its subsidiaries in insurance, mutual funds, and private equity also reflect its diversification and dominance in the private banking space. The bank's global presence across 19 countries highlights its evolution from a domestic player to a multinational financial entity. But no matter how global its aspirations, maintaining this local connection—as seen with the Coin Exchange Mela—is what truly grounds the bank’s reputation in the eyes of the everyday Indian. It shows that even as banking grows more complex and digital, there’s still immense value in traditional, people-centric initiatives that meet simple but essential needs.

ICICI Bank organises Coin Exchange Mela at Mani Majra, Chandigarh

Swaswati Borpuzari

Member