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Wednesday, July 18, 2018

All 14 types of Rs 10 coin valid, legal tender: RBI

"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," the bank said.

By: Express Web Desk | New Delhi | Updated: January 17, 2018 4:23:51 pm
RBI reiterated the legal status of 10 rupee coins RBI also directed other banks to accept coins for transactions and exchange at all their branches. (Express Photo by Praveen Khanna)

The Reserve Bank of India (RBI) on Wednesday reiterated the legal tender status of all ten rupee coins issued by it. This comes after it received several reports that these coins were not being considered genuine and rejected during transactions.

The RBI, in a statement, said: “So far, the Reserve Bank of Indian has issued Rs 10 coins in 14 designs and public has been informed of their distinctive features. All these coins are legal tender and can be accepted for transactions. The coins minted by the government mints have distinctive features to reflect various themes of economic, social and cultural values and are put into circulation from time to time.” The RBI has also asked banks to accept coins for transactions and exchange at all their branches.

“It has come to the notice of the Reserve Bank of India that in certain places there is reluctance on part of traders and members of the public to accept Rs 10 coins due to suspicion about their genuineness,” the bank added.

The bank will also shortly issue brand new Rs 10 bank notes. According to the picture released by the RBI, the new Rs 10 notes will be in chocolate brown colour. It will have the same width as the current one — 63mm. The length, however, will be lesser at 123mm as against the current note (137 mm). The new note will be issued under existing Mahatma Gandhi series and will carry a motif of Konark Sun Temple on the reverse side. Other banknotes in the denomination of Rs 10, too, will continue to be legal tender.

(With inputs from agencies)

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