Rs 10 coins are valid: RBI
Posted on: 21/Dec/2016 11:08:29 AM
Recently there were rumours that Rs 10 coins were invalid in Tamil Nadu. Because of this merchants and bus conductors are refusing to accept these coins. At this juncture, the Reserve Bank has issued a circular to all the banks. In the circular the details of the 10 rupee coin shape, weight and design was mentioned. It was also mentioned that in which year the coin was minted and in whose honour the coin was circulated.
The banks were advised to enlighten the merchants in the area in this matter. Moreover the Rs 10 coin was released in the year 2010. After this, every year the RBI released as a commemoration of leaders. Lastly on 22nd June, The Reserve Bank put in circulation Rs 10 coins minted by the government to commemorate birth centenary of Swami Chinmayananda. Hence people can use the Rs 10 coins without any reluctance. Apart from this Reserve Bank has sent Rs 15 lakh in Rs 10 coins to State Bank of India since there is shortage of cash.
