RBI dispels rumours of fake Rs 10 coins in circulation

It has been reported that some less-informed or uninformed persons who suspect the genuineness of such coins are creating doubts in the minds of ordinary people.

By: PTI | Mumbai | Published:November 20, 2016 8:33 pm
rupees 10 coins, rs 10 coins, 10 rupee coins, coins, india news, indian express, Two types of the Rs 10 coins in the market in Ludhiana. (Express Photo by Gurmeet Singh)

Dispelling rumours of fake Rs 10 coin in circulation, RBI today asked people not to give credence to such canards and continue to accept these coins as legal tender in all their transactions without any hesitation. It has been reported that some less-informed or uninformed persons who suspect the genuineness of such coins are creating doubts in the minds of ordinary people including traders, shopkeepers, etc, impeding the circulation of these coins in certain pockets of the country causing avoidable confusion, RBI said in a statement.

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“The Reserve Bank has advised members of the public not to give credence to such ill-informed notions and ignore them and continue to accept these coins as legal tender in all their transactions without any hesitation,” it said. According to RBI as coins remain in circulation for longer periods, it is quite possible that coins of different designs and even shapes are circulating at the same time.

One such change is introduction of ‘Rupee symbol’ in coins in July 2011, it said. An instance of this is the Rs 10 coin with rupee symbol and the same denomination coin without rupee symbol, it said,
adding both of them are legal tender and equally good for transactions, though they may look a little different.

It further said RBI puts into circulation coins minted by the Government of India and these have distinctive features. Coins in new denominations to meet transaction needs of public and coins in new designs to reflect various themes – economic, social and cultural – are introduced from time to time, it added.

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  1. K
    Kashif Shaikh
    Apr 15, 2017 at 8:01 am
    I have a 10₹ coin with number 10 inside the circle and nobody is accepting From Auto waala to newspaper vendor. I tried to argue them and showed them that RBI has cleared all this is a rumour, but they are not willing to accept. I request Govt. Of India and RBI to please take this as a serious issue because once i ran out of money and had few 10₹ coin but nobody's was accepting i had a hard time reaching home. Please I reques RBI to address this issue as soon as possible.
    Reply
    1. P
      prateek jain
      Nov 26, 2016 at 2:40 am
      Helpful.thanks
      Reply