All Rs 10 coins are legal tenders and acceptable: RBI
New Delhi: Taking notice of the reluctance on part of people to accept some Rs 10 coins, the Reserve Bank of India has indicated everyone to consider every Rs 10 coin as genuine.
The apex bank said, “It has come to the notice of the Reserve Bank 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 Reserve Bank puts into circulation, the coins minted by mints, which are under the Government of India.”
RBI has cleared that the coins have distinctive features to reflect various themes of economic, social and cultural values and are introduced from time to time and as coins have longer life different designs and shapes circulate in the market at the same time.
“So far the Reserve Bank 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.
It is to be mentioned that the Reserve Bank has in the past also issued a Press Release on November 20, 2016 requesting members of the public to continue to accept coins of Rs 10 denomination as legal tender in all their transactions without any hesitation.
The Reserve Bank has also advised banks to accept coins for transactions and exchange at all their branches.