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Reluctance to accept Rs 10 coins - RBI tries to clear doubts

Published: Jan 18, 2018

By TIOLCORPLAWS News Service

MUMBAI, JAN 18, 2018: HAVING come to the notice of the RBI that in certain places there is reluctance on part of traders and members of public to accept Rs 10 coins due to suspicion about their genuineness, it is clarified that the RBI has put into circulation, the coins minted by mints, which are under the Government of India. These coins have distinctive features to reflect various themes of economic, social and cultural values and are introduced from time to time.

As coins have longer life, coins of different designs and shapes circulate in the market at the same time. So far the RBI has issued Rs 10 coins in 14 designs and the public has been informed of their distinctive features through Press Releases. All these coins are legal tender and can be accepted for transactions.

The RBI has also advised banks to accept coins for transactions and exchange at all their branches.

 

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