RBI Clears Confusion around Rumours of Fake 10 Rupees Coins

17 Jan 2018  Wed

The Reserve Bank of India has issued a Press Release today regarding the problem of 10 rupees coins not being accepted by certain traders and the general public due to rumours that the coins are fake.

Through the press release, it has been clarified that the coins minted by authorised mints of India are put into circulation by the RBI. These coins that are introduced on a timely basis feature various themes based on economic, social and cultural values.

The Bank stated that coins generally have a longer life, due to which, coins of different designs and shapes keep circulating throughout the country simultaneously. Currently, there are 10 rupees coins featuring 14 different designs that are in circulation, all of which are legal tender. The list of these coins was also mentioned in the Press Release.

The Reserve Bank had already issued a press release requesting the public to continue using these coins. Banks were also advised to accept coins for transactions and exchange at all the branches.

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