fake 10 rs coin rbi

fake 10 rs coin rbi

Fake 10 rs coin rbi
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.
8. The Reserve Bank of India (RBI) has also advised people not to give credence to such ill-informed notions and ignore them and continue to accept these coins as legal tender in all their transactions without any hesitation, the statement on November 20, said.

Fake 10 rs coin rbi
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.”
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.

Fake 10 rs coin rbi
RBI clarified in its statement that the reason different Rs 10 coins have distinctive features is to reflect various economic, social and cultural themes. But will this RBI notification make the public trust the coins themselves? In the age of fake news catalysed by social media and instant messaging apps like WhatsApp, despite a credible source, there remains a lot of ambiguity in terms of factual accuracy.
The Reserve Bank has advised members of the public not to give credence to such ill-informed notions and ignore them and continue to accept these coins as legal tender in all their transactions without any hesitation.

Fake 10 rs coin rbi
RBI
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.

India is one of the biggest markets of counterfeit consumer goods. A group of IIT-Kanpur alumni is developing unclonable 3D tags which can .
JSHL’s net revenue for the quarter under review came down by 2% at Rs 2,191 crore.

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.dailyo.in/business/rs-10-coins-currency-rbi-legal-tender-sedition-law-fake-currency/story/1/21851.html
http://educationbhaskar.com/news/rs-10-coins-fake-banned/4634/
http://m.economictimes.com/topic/Fake-Rs-10-coins
http://www.ndtv.com/business/rs-10-coins-fake-or-not-as-rbi-clears-the-air-10-things-that-you-should-know-budget-1811761