All Designs of Rs 10 Coins are Legal Tender: RBI

ONI Bureau: The Reserve Bank of India (RBI) has yet again clarified that all 14 designs of Rs 10 coins are valid and legal. The statement came in the wake of growing reluctance on part of traders and public to accept Rs 10 coins, suspecting their genuineness.

“It is clarified that the Reserve Bank puts into circulation, the coins minted by mints, which are under the Government of India. These coins have distinctive features to reflect various themes of economic, social and cultural values and are introduced from time to time,” says the RBI statement.

The Reserve Bank has also advised banks to accept Rs. 10 coins for transactions and exchange at all their branches.

Ironically, even as the government has reversed its decision to halt halt production of coins entirely, and asked the four mints in the country to restart production on a slow pace, there is a panic among the traders and general public in some parts of the country and they are even reluctant to accept any coins!

The Centre and State Governments must step in and spread awareness among the people through various means so that all remain on the same page.