Amid reluctance by certain traders to accept ‘different looking’ Rs 10 coins, the Reserve Bank of India on Wednesday said all 14 designs of the coin are valid and legal tender for transactions.
“It has come to the notice of Reserve Bank that in certain places there is reluctance on part of traders and members of the public to accept Rs 10 coins due to suspicion about their genuineness,” the RBI said while reiterating legal tender status of the coins.
In a statement, the central bank clarified that it puts into circulation the coins minted by government mints. These coins, it further said, have distinctive features to reflect various themes of economic, social and cultural values and are introduced from time to time.
“So far the Reserve Bank has issued Rs 10 coin in 14 designs. All these coins are legal tender and can be accepted for transactions,” the RBI said, adding that banks should also accept the coins for transactions and exchange at all their branches.
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