60 Seconds Story: Don’t believe the rumours, use 10 rupee coins without hesitation, says RBI


Suyash Sethiya | Nov 22, 2016 22:01

Adding to the woes of the people after demonetisation on November 8, 2016, is the rumour about 10 rupee coins, which have been doing rounds on social media.

→ Adding to the woes of the people after demonetisation of Rs 500 and Rs 1000 currency notes on November 8, 2016, is the rumour about 10 rupee coins, which has been doing rounds on social media.

→ The rumour suggests that the 10 rupee coins have been declared invalid by the RBI. The rumour also suggests that there are 10 rupee coins with two different designs in circulation and that one of the coin is fake!

→ The rumour has spread like wildfire and in many cities of India vendors, shopkeepers, grocery shop owners, taxi drivers, autowallahs, etc., have stopped accepting 10 rupee coins from customers saying that the tender is fake.

→ Two pictures of the 10 rupee coin (one supposed to valid and the one supposed to be fake) laying down points of distinction between the two coins are also being exchanged over Whatsapp!

→ Reserve bank of India in a statement issued has clarified on the different designs of the coin saying that 10 rupee coins in the market are very much legal. It has said that as coins stay in circulation for a longer period, coins of different designs are circulating in the market. RBI also gave an example that ‘The rupee was introduced on 10 rupee coins in July 2011. Both the coins before July 2011 and after July 2011 are legal tender’

→ The RBI has appealed people to not believe such rumours and continue to accept 10 rupee coins legally in all types of  transactions without any hesitation.