• Some shopkeepers refusing Rs 10 coins
• RBI dispels rumours of fake Rs 10 coins
Morung Express News
Dimapur | December 8
Amidst the economic pandemonium caused by the central government’s demonetisation move, rumours about Rs 10 coins losing tender status has added to the confusion.
While banks have been giving away Rs 10 coins to customers due to shortages of notes in lower denominations, a rumour is fast spreading across the state and the country that the coins have been declared invalid by the Reserve Bank of India; a rumour which is false.
Some shopkeepers in Dimapur were seen refusing Rs 10 coins from customers. This has compounded the grievances faced by people, with circulation of the new Rs 500 notes being very low, and the Rs 2000 note still proving to be intimidating for businesses.
“I got around Rs 900 in Rs. 10 coins, but it is not accepted by wholesalers and other retailers, so I have also stopped accepting the same,” said one shopkeeper in Dimapur who has been refusing the Rs 10 coins.
Similar cases have been reported from other parts of the country as well. For instance, in Indore, rumours about Rs 10 coins losing legal tender status led to a brawl, forcing police to use mild force.
The fight broke out between a mobile shop owner and a customer, when the latter made the payment for a mobile phone recharge with Rs 10 coin and the former refused to accept it.
RBI dispels rumours
It may be noted however that the Rs 10 coins are still legal tender. Also dispelling rumours of fake Rs 10 coins in circulation, the Reserve Bank of India (RBI) has asked people not to give credence to such canards and continue to accept these coins as legal tender in all their transactions without any hesitation.
“It has been reported that some less-informed or uninformed persons who suspect the genuineness of such coins are creating doubts in the minds of ordinary people including traders, shopkeepers, etc, impeding the circulation of these coins in certain pockets of the country causing avoidable confusion,” the RBI said in a recent statement.
“The Reserve Bank has advised members of the public not to give credence to such ill-informed notions and ignore them and continue to accept these coins as legal tender in all their transactions without any hesitation,” it said.
According to RBI as coins remain in circulation for longer periods, it is quite possible that coins of different designs and even shapes are circulating at the same time. One such change is introduction of Rupee symbol in coins in July 2011, it said.
An instance of this is the Rs 10 coin with rupee symbol and the same denomination coin without rupee symbol, it said, adding both of them are legal tender and equally good for transactions, though they may look a little different. It further said RBI puts into circulation coins minted by the Government of India and these have distinctive features. Coins in new denominations to meet transaction needs of public and coins in new designs to reflect various themes - economic, social and cultural - are introduced from time to time, it added.
It further said RBI puts into circulation coins minted by the Government of India and these have distinctive features.
Coins in new denominations to meet transaction needs of public and coins in new designs to reflect various themes – economic, social and cultural – are introduced from time to time, it added.
With PTI inputs
