10 rs coin fake

10 rs coin fake

In July 2016, some shopkeepers in India were reported to be refusing to accept the ₹ 10 coin entirely, the result of a rumour circulating on social media. [9] [10] It was initially claimed that coins with a 15 notch reverse design lacking the ‘₹’ symbol were fake, compared to the 10 notch version using the symbol introduced in 2011.
The fourth design of the ₹10 coin, minted since 2019, featured the Lion capital, the lettering “सत्यमेव जयते” in the center plug and the lettering “भारत” on left and “INDIA” on right on the outer ring. On the reverse side of the coin is the number 10 below the ₹ currency sign, the year of issue and eight stylized grain stalks. [8]

10 rs coin fake
2. While explaining the reason for minting a different set of coins, the Reserve Bank of India (RBI) said that since currency coins have longer life, the coins of different designs and shapes circulate in the market at the same time.
4. In April this year, RBI had released a Rs. 10 coin to commemorate the one hundred twenty five years of National Archives of India. This face of the coin bears the image of National Archives Building in the centre.

10 rs coin fake
Not only the Rs 10 coin faced rejection in circulation but also the newly minted Rs 1 coin is facing unauthorized demonetization in some parts of the country as well. For rupee ten coin, RBI previously issued notice for it being the valid currency and warned people about facing legal action for rejecting such coins.
He further added, “The banks accept the coin but they also hesitate to take-in large numbers of it.”

10 rs coin fake
Rumors on fake 10 Rupee coins, started a few months ago. It is popularly believed that shopkeepers and some traders may have spread malicious rumors, that many 10 rupee coins were fake. A message was also circulated on WhatsApp, on how to find the difference between a fake and real 10 rupee coin. This was believed to be the handiwork of a neighboring country.
Let me ask you a question? Do you think a person who mints fake 10 rupee coins, will forget to make it look like the original.

10 rs coin fake
Recently, fake news about Rs. 10 coins made waves on social media and WhatsApp that claimed an enormous number of fake coins had been dispensed in the market by Pakistani agency ISI. As anyone would expect it, this rumor fired a fury in the market, and the shopkeepers and vendors started to refuse the ₹ ten coins in the transaction. The condition went so worse that RBI had to come forward to issue a statement regarding this.
According to RBI as coins endure in the rotation for a greater period, it is pretty probable that coins of various designs and even shapes are circulating at the same time. One such modification is the introduction of ‘Rupee sign’ in currencies in July 2011. An example of this is the Rs 10 coin with rupee symbol and the same value coin without rupee symbol, it said, adding both of them are legal tender and equally valid for transactions, though they may look a little different. Still, if you find a doubtful coin, don’t panic and approach the nearby bank with the coins instead of verifying with someone or spreading rumors.

References:

http://www.ndtv.com/business/rs-10-coins-fake-or-not-as-rbi-clears-the-air-10-things-that-you-should-know-budget-1811761
http://www.indiatoday.in/education-today/gk-current-affairs/story/all-14-types-of-rs-10-coin-are-legal-tender-rbi-1148376-2018-01-18
http://indianmoney.com/articles/rupees-10-coins—fake-or-real
http://educationbhaskar.com/news/rs-10-coins-fake-banned/4634/
http://en.m.wikipedia.org/wiki/Indian_10-rupee_coin