Public can continue to accept 10 rupee coins as legal tender : RBI

Refusing to accept 10 rupee coins is a punishable offense

Public can continue to accept 10 rupee coins as legal tender : RBI
10 Rupee Coins
 

RBI reiterates legal tender status of ₹ 10 coins of different designs

Date : Jan 17, 2018

It has come to the notice of the Reserve Bank that in certain places there is reluctance on part of traders and members of public to accept ₹ 10 coins due to suspicion about 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.

As coins have longer life, coins of different designs and shapes circulate in the market at the same time. So far the Reserve Bank has issued ₹ 10 coins in 14 designs and the public has been informed of their distinctive features through Press Releases (list appended). All these coins are legal tender and can be accepted for transactions.

The Reserve Bank has in the past also issued a Press Release (November 20, 2016) requesting members of the public to continue to accept coins of ₹ 10 denomination as legal tender in all their transactions without any hesitation.

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

For more information on these coins, please visit the following link: https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx