RBI Issues Statement Saying All 14 Designs Of Rs. 10 Coins Stand Valid

All 14 coins have distinct features, of which the public have been informed about.

RBI, Reserve Bank of India, apex, bank, coins, notes, banknotes, transaction, exchange, legal, tender, status, standing, rumor, accept, allow, circular, statement, issue, valid, legitimate, minted, economic, cultural, values
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On Wednesday, the Reserve Bank of India (RBI) reinstated the standing of all the designs of ten rupee coins that have been issued recently. The apex bank stated that all the coins have a status of legal tender.

The much-needed reiteration came in when several rumors started doing rounds about the coins not being legitimate. Many of the shopkeepers and vendors had even started rejecting the coins.

According to RBI’s statement: “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 banks have been asked by the RBI to allow these coins for transaction and exchange.

 Source: newindianexpress

“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," RBI further added. 

RBI is all set to issue new Rs 10 bank notes. As seen by the pictures which were officially released, the brand new notes will be of chocolate brown color. However, the width of the new one will be 63mm which is the same as old ones.

The length of the new notes will be 123mm, while the old ones are on 137mm. The new notes will have Mahatma Gandhi on its face along with a motif of Konark Sun Temple on the reverse side.

Other kinds of bank notes of Rs 10 will also have the status of legal tender.

Information source: indianexpress

Title image source: numista


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