Rs 10 coins valid: RBI, AP govt.
To clear doubts about the validity and acceptance of Rs 10 coins among people, the Reserve Bank of India (RBI), the Andhra Pradesh government, bankers and retail businesses have joined hands
VIJAYAWADA: Officials of the Reserve Bank of India, the Andhra Pradesh government and state bankers join hands to clear doubts on the validity of Rs 10 coins, in Vijayawada on Wednesday.
To clear doubts about the validity and acceptance of Rs 10 coins among people, the Reserve Bank of India (RBI), the Andhra Pradesh government, bankers and retail businesses have joined hands. To convey this message, the RBI officials conducted a meeting with the heads of major banks in the state in Vijayawada on Wednesday.
This reluctance among traders and the public to accept the Rs 10 coins is because of the suspicion that these could be fake, said the bankers. Several fake news was spread by some scrupulous elements about the validity of these coins, they pointed out. In a bid to improve the acceptance of these coins in AP and Telangana, representatives of the State Bank of India, Union Bank of India and HDFC Bank distributed Rs 10 coins to retail businesses and rice mills on the sidelines of the meeting.
On the occasion, the RBI said it allows the circulation of coins minted by the Government of India from time to time. Given the longer lifespan of coins, multiple designs and shapes coexist in the market simultaneously. Thus far, the RBI has issued Rs 10 coins in 14 different designs.
The bankers have emphasised that all Rs 10 coins, regardless of their design, are legal tender and can be accepted for transactions without hesitation. The RBI has instructed the banks to accept these coins for transactions and exchange at all of their branches.