AP: Sellers, Buyers Not Accepting Rs.10, Rs.20 Coins at Rythu Bazars
Visakhapatnam: Reserve Bank of India (RBI) has consistently emphasised that Rs.10 coin is legal tender. However, farmers, traders and customers at Rythu Bazars in Visakhapatnam are refusing to accept Rs.10 or Rs.20 coins.
There have been frequent conflicts between customers and retailers at Rythu Bazar over the issue of accepting Rs.10 coins. A female farmer Kanthamma told Deccan Chronicle, “If we give ₹10 coins, customers refuse to accept them. That is why we are not taking them either."
Daily wage labourer Anjaiah told DC, "Every time I go to Rythu Bazar, I fight over the Rs.10 coin. When I give a Rs.10 coin, farmers and traders are not accepting it. Sometimes, I leave without purchasing the goods needed because they do not accept the coins. If someone gives me a Rs.10 coin, I am not going to take it, as tendering it has become difficult.”
Despite court rulings and RBI’s mandate, people at the local level are not accepting the coins. According to Section 6(1) of the Coinage Act, 2011, coins issued under the authority of the Act are legal tender for payments up to certain limits. Non-acceptance of these coins can lead to legal consequences.
RBI has organised awareness campaigns with celebrities and film actors to address this issue. However, the ground reality is different and the problem persists.
When contacted, G. Prasad, estate manager of Rythu Bazar, stated, "Tendering has become a problem with regard to not only Rs.10 coin, it is also a problem when it comes to the new Rs.20 coins and old Rs.100 notes. In January and February of this year, a social media post had gone viral with a message that Rs.10, Rs.20 coins and old Rs.100 notes are not valid. Since then, the problem has escalated."
