10 rupees coin fake

10 rupees 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 Indian 10-rupee coin ( ₹ 10) is a denomination of the Indian rupee. The ₹10 coin is the highest-denomination coin minted in India since its introduction in 2005. The present ₹10 coin in circulation is from the 2019 design. However, the previous ₹10 coins minted before 2019 are also legal tender in India. All ₹10 coins containing with and without the rupee currency sign are legal tender, as stated by the Reserve Bank of India. Along with the standard designs, there are 21 different designs for this denomination and are minted as circulating commemorative coins, this is used alongside the 10 rupee banknote.

10 rupees coin fake
5. The Reserve Bank has also advised banks to accept Rs. 10 coins for transactions and exchange at all their branches.
On the reverse side, Rs. 10 is written in international numerals and in lower periphery, the word “rupee” is written in Hindi and English

10 rupees coin fake
He further added, “The same is true for the banks. If I want to deposit hundred Rs 10 coins valuing ten thousand, the banks reject it by saying bluntly that they do not accept such large number of coins. Because of banks’ actions, the local shop owners start to reject the coin by giving support to the false claims of the wholesalers for the coin being fake. And the cycle goes on and on.”
The rumours of fake Rs 10 coin in circulation started the rejection of this coin. While some parts of the country accept the coin other do not. The public is of the view that big shop owners and banks are responsible for the rejection of rupee ten coins.

10 rupees coin fake
Many rumors or fake ₹ 10 coins news is getting viral in social media like Whatsapp, facebook, twitter, etc. Like Fake Rs 10 coin, rupees 10 coins are banned and govt. will issue new ₹ 10 currency. So people are not accepting the coins. Social media offers a huge platform to share information and spread awareness. However, viral worth of a particular piece of information is independent of its credibility. The Internet moves quickly and so does the rumor.
RBI

10 rupees coin fake
The RBI has asked you not to listen to any rumors on fake 10 rupee coins. The 10 rupee coins are still valid. These were some of the popular rumors on how to distinguish between fake and real 10 rupee coins. These rumors were found to be false.
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.

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://educationbhaskar.com/news/rs-10-coins-fake-banned/4634/
http://indianmoney.com/articles/rupees-10-coins—fake-or-real
http://en.m.wikipedia.org/wiki/Indian_10-rupee_coin