Hyderabad: Vendors still refuse Rs 10 coins

Hyderabad: The Rs 10 coins are still being rejected by vendors across the city even as RBI has repeatedly assured the public that they are legal tender.

Autorickshaw drivers, small businesses and vendors from Rajendranagar and Kukatpally to Hitec City and Gachibowli are however, refusing to budge, people said.

On Sunday, Sameer Shaik, 28, from Tolichowki, tried to pay for food at a  Nanalnagar food outlet but the payment in Rs 10 coins was refused. He said, “I had gone to KBR Park earlier in the day and got back Rs 50 in five Rs 10 coins after buying two entrance tickets. Later, when I tried to pay for some shawarma, the food outlet owner refused to take the money. I showed him news articles on my phone that clarified the coins were legal tender but he said even banks and beggars were refusing them. Though he failed to specify which bank.”

Mr Shaik who works for Deloitte, added, “I called the RBI complaint number but could not get through so I left it at that.”

In 2016 and again in 2018, the Reserve Bank of India had clarified that all `10 coins in circulation were legal tender.

Last year, the RBI said, “The Reserve Bank has in the past also issued a press release requesting members of the public to continue to accept coins of `10 denomination as legal tender in all their transactions without any hesitation.”

The Reserve Bank has also advised banks to accept coins for transactions and exchange them at all their branches.

In addition, on February 15, 2018, Uma Shankar, executive director at RBI, had sent out a notification to banks that stated, “It is advised that none of the bank branches should refuse to accept small denomination notes and/or coins tendered at their counters.”

However, despite the RBI’s repeated clarifications, the rumours that the coins are fake spread across Karnataka, Maharashtra, Andhra Pradesh, Telangana state and north-eastern parts of India through Whatsapp and other social media groups and are still refusing to die out.

Suman Adhikary, 29, of Kukatpally who works in IT in Hitec City, added, “My friends and I are facing this issue throughout the city, including in the Gachibowli area. Even my maid and also the auto-rickshaw drivers ferrying me to and from work refuse to take the coins.”

Srivalli Prabhala of Vinaynagar said she was advised to take the coins to a bank by an RBI representative.

She said, “I called up the RBI phone number that was meant for lodging a complaint when vendors do not accept the coins this week. I told the official that the locals were not accepting the coins. He advised me to deposit the coins with my bank.”  The RBI phone numbers Ms Prabhala called were 044 253 99222 and 040 2326 7031.

An official at the RBI said, “We have repeatedly issued circulars saying they are valid and are legal tenders. The information is clearly stated on our website. We even had an awareness campaign where we sent out phone messages to millions of people to educate them about frauds, fictitious offers and rumours. What else can we do beyond that?” When asked if the coins would be taken out of circulation at all, he said, “No comments.”