RBI scotches rumours about Rs 10 coins

Hyderabad: The Reserve Bank of India has advised the public not to believe rumours that 10 rupee coins are no longer legal. In a press release issued on Tuesday, the RBI said: “It has been reported that some uninformed persons are creating doubts about the genuineness of Rs. 10 coins in the minds of ordinary people including traders, shop-keepers, etc., impeding the circulation of such coins in certain pockets of the states of Telangana and Andhra Pradesh. Therefore, they are hereby advised to continue to accept these coins as legal tender in their transactions.

“The Reserve Bank puts into circulation coins minted by the Government of India. These coins have distinctive features. Coins in new denominations and new designs reflect various themes – economic, social and cultural and are introduced from time to time to meet the transaction needs of the public. As coins remain in circulation for longer periods, it is possible that coins of different designs and even shapes are circulating at the same time. One such change is introduction of the ‘Rupee symbol’ on coins in July 2011. So the new 10 coins have the rupee symbol but the earlier ones of the same denomination are without the rupee symbol. However, both of them are legal tender and equally valid for transactions.” –NSS

Leave a Reply

Your email address will not be published.