Reserve Bank of India warning on Rs. 10 coins!
Posted on: 31/Dec/2019 12:10:06 PM
The Reserve Bank of India has made a categorical announcement that all the coins of Rs. 10 denomination currently in circulation are perfectly valid and hence refusal to accept them is an offence!
The Reserve Bank of India has informed in this regard that recent complaints have been received in large numbers that coins of Rs. 10 denomination are not being accepted in many cities/villages.
It is a crime to refuse to receive a coin/currency note without any announcement in this regard by the Reserve Bank of India. As per the Coin Act of 1906, the coin of Rs. 10 denomination is valid and blocking it is to be condemned.
It has been further been informed that stringent action may be taken through Indian Penal Code Section 124A on those who refuse to accept the Rs. 10 coins.
