“The Rs 10 coin is legal tender and not receiving and accepting it is a criminal offence punishable under the law. I registered an FIR with the local police station and would file a complaint with the Telangana State Consumer Forum for lack of services,” he added. * The journalist went to a milk parlour in the train station and they accepted the room without complaint. A journalist visited the Indira canteen in Kadirenahalli Cross, Uttarahalli. The cashier accepted the piece without hesitation and we enjoyed a plate full of puliyogare for lunch. It was delicious! “It has come to the attention of the Reserve Bank that in some places there is a reluctance on the part of traders and the public to accept $10 coins suspected of their authenticity,” the RBI said, repeating the status of coins of various models. India`s central bank reiterates that all coins should be accepted, but myths about what legal tender is need to be debunked. In July 2019, on June 26, 2019, the RBI announced that the Rs 10 coin is highly circulating and should be considered legal tender. Although these rooms are not affected by demonetization, they are still accumulated at home. Metrolife conducted a reality check on Friday and visited public and private organizations to verify the extent to which the part was accepted. Since everyone refuses to accept these coins, they accumulate in homes and banks. These pieces, it was added, have peculiarities to reflect various themes of economic, social and cultural values, and are introduced from time to time. He added: “Banks accept the coin, but they are also reluctant to accept a large number of them.” The Minister stated that from time to time, some complaints were received about the non-acceptance of the Rs 10 exhibit.
A resident of Goa said: “A few months ago, there was a huge shortage of coins. We had a lot of problems because of the unavailability of parts for transactions. But during these four months, the Ten Coin rupee is readily available and all kinds of these coins are accepted here. Anwar adds: “Now RBI says that 20 rupee coins will be introduced. But what should we do with the Rs 10? Parts that we have accumulated? Mohammad Khalid Akram Ansari, a BTC student in Sitapur, UP, said: “Nowadays, everyone behaves like an authority as if they were the government itself. Wholesalers in the area do not accept the Rs 10 coin because it is too much work to count it, and since they cannot reject it for this reason, they weave stories to be false or similar to reject the coins. “10 rupee coins of various sizes, themes and designs minted under the authority of the Indian government and put into circulation by the Reserve Bank of India are legal tender and can be used as legal tender in all transactions,” Pankaj Chaudhary, Minister of State at the Ministry of Finance, said in a written response to a request to the Rajya Sabha on Tuesday (8 February 2022). The RBI said it had become aware that in some places there was a reluctance on the part of traders and people to accept Rs 10 coins suspected of their authenticity. “It has come to the attention of the Reserve Bank that in some places there is a reluctance on the part of traders and the public to accept Rs 10 coins suspected of their authenticity,” the RBI said, repeating the legal tender status of coins of different designs.
Will the Rs 20 coin be released? The Ministry of Finance is holding a meeting to complete the prototypes of the “new series”. While the message about the invalidity of these coins as legal tender has not yet reached the masses, public transport has not yet started accepting these coins again, despite repeated circulars from the RBI. On condition of anonymity, a senior RBI official said: “We have raised public awareness through advertisements in TV channels and newspapers that the Rs 10 coin is not prohibited, but is legal tender and valid. I don`t know why merchants don`t accept coins. In the event that people face a problem related to the same thing, they can file their complaints against commercial establishments at any police station. An official from the Federation of Bank Employees of India said that “people who have too many 10 rupee coins can go to the RBI exchange counter and have them exchanged. They can also go to the nearest bank and deposit into their account. It is rumored that this piece is a fake due to the chaos on social media. However, the Reserve Bank of India (RBI) has issued an official statement to address these rumors, stating that the old design is valid before 2011 and is legal tender.
[5] Sana Sikander, who shuttled with the Autorickshaw, remembers an unfavorable incident. “I got into the car, but the driver didn`t accept the part and started arguing. I raised the issue with the authorities, but I didn`t hear from them,” she recalls. How can Metro, as a public transport company, not accept coins? ” he asks. Even in train stations, shops avoid these rooms. A similar incident was experienced by Eddy while he was travelling by subway. He recalls: “I tried to buy a ticket at the metro station with the Rs 10 coins, but it was rejected by the ticket seller. In February 2018, the Reserve Bank of India launched an awareness campaign for sending SMS via the 10-pound coins with 10 and 15 radiant lines. Both are valid. [14] The mint mark is located at the bottom of the face of the 10-inch coin. [6] R Ravi, a small trader, said in Secunderabad: “We do not accept coins because we have received a lot of fake coins. This is not the first time the RBI has ordered people to accept ten-rupee coins in the country.
But the central bank`s announcement certainly freed the air of rumors that it was a fake. But as long as there is a concentration of “change” in a region, it will lead to problems like this. The Indian 10 rupee coin (₹10) is a designation of the Indian rupee. The ₹10 coin is the second highest denomination minted in India since its launch in 2005. The current ₹10 coin in circulation comes from the 2019 design. However, previous €10 coins minted before 2019 are also legal tender in India. All ₹10 coins containing with and without rupee currency symbols are legal tender as specified by the Reserve Bank of India. In addition to the standard models, there are 4 different models for this denomination, which is used next to the 10 rupee note.
What can you do? Under the Currency Act 2011, a person can file a complaint if someone refuses to accept legal tender. In addition, Indian coins received a facelift after the demonetization of the new notes. Last year, Prime Minister Narendra Modi launched new coins of Rs. 1, Rs. 2, Rs. 5 and Rs. 10. Interestingly, in addition to redesigning the coins already available, the government has also introduced a coin with a value of 20 rupees. Rs 10 coins are not acceptedK Prasanna Kumar, chief executive of Andhra Bank, says false information reaching traders and consumers leads them to suspect the currency`s authenticity. In July 2016, it was reported that some traders in India refused to fully accept the 10-pound coin, following a rumor circulating on social media. [10] [11] Initially, it was claimed that coins with a 15-notch inverted design that did not have the “₹” symbol were fake, compared to the 10-notch version that used the symbol introduced in 2011.