10rs coin fake

10rs coin fake

It was later clarified by the Reserve Bank of India (RBI) that the “alleged fake” coin was the earlier 2008 design, which predated the adoption of the ‘₹’ symbol in 2010, and was still in legal circulation, along with the 2011 design and those refusing to accept it could face legal action. [11] [12] [10]
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]

10rs 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.”
He further added, “The banks accept the coin but they also hesitate to take-in large numbers of it.”

10rs coin fake
Banks and the general public are finding it tough to use ₹10 coins for retail transactions, as these are not being accepted by many as legal tender. As a consequence, currency chests and coin depots of banks are now ‘overflowing’ with these coins.
Though there has been a problem of acceptance, the volume of ₹10 coins increased from 3,703 million pieces in 2016 to 5,049 million pieces in 2018. Banks are concerned over this increase. Further, the RBI had also issued a new series of ₹10 coins early this year. Aware of the problem, the RBI launched some initiatives in the recent past.

10rs coin fake
6. In a statement issued on November 20, 2016, the RBI had said that there are two distinct Rs. 10 coins, one with rupee symbol and the another without rupee symbol. Both of them are legal tender and equally good for transactions, though they may look a little different.
3. In the past also, the RBI had issued a statement on November 20, 2016 exhorting the members of the public to continue to accept coins of Rs. 10 denomination as legal tender in all their transactions without any hesitation.

10rs coin fake
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.
The rumors on fake 10 rupee coins are all false. RBI says, both these 10 rupee coins were minted by the Government of India and are legal tender. These 10 rupee coins might look different, but their transaction value is the same.

References:

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://www.thehindubusinessline.com/money-and-banking/with-no-takers-10-coins-piling-up-at-banks/article27050284.ece
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://indianmoney.com/articles/rupees-10-coins—fake-or-real
http://en.m.wikipedia.org/wiki/Indian_10-rupee_coin