is 10 rs coin banned

is 10 rs coin banned

This coin is rumored to be a fake one due to chaos on social media. However, the Reserve Bank of India (RBI) issued an official statement to address these rumors declaring that the old the design prior to 2011 is valid and is legal tender. [5]
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]

Is 10 rs coin banned
Several people have received SMS messages from RBI that reads: “Coins are available in different designs due to their long life. Accept them without fear…” Interestingly, to clear all confusion for once and for all, the message says to give a missed call to 14440, and instantly expect a call back from the Reserve Bank of India. The central bank then clarifies on the recorded voice message that the Rs 10 coins in issued in 14 designs are all legally valid for transaction.
“It is clarified that the Reserve Bank puts into circulation, the coins minted by mints, which are under the Government of India. These coins have distinctive features to reflect various themes of economic, social and cultural values and are introduced from time to time,” the press release said.

Is 10 rs coin banned
The Reserve Bank of India on Tuesday said the Rs 10 coin was very much in circulation and those refusing to accept it could face legal action, setting to rest rumours that the coin was banned.
Some rumours said counterfeit coins in two designs had flooded the market. The others claimed the RBI had phased out the coins and those in circulation were fake. There was also talk of the gold polish coming off.

Is 10 rs coin banned
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.
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.

Is 10 rs coin banned
“RBI has been keeping the public informed with their press releases. Recently, they have put up a notice saying coins of all denominations are valid. Whether it is 50 paise, Re 1, Rs 2, Rs 5 or Rs 10,” he told Metrolife.’ He said it was up to traders and consumers to become aware and start transacting with the coins.
Rammohan, auto driver from Hebbal, accepted the coin, though he asked if a Rs 10 note was available.

References:

http://www.financialexpress.com/money/worried-about-rs-10-coins-you-may-soon-get-a-phone-call-from-rbi-saying-all-is-well/1028589/
http://m.hindustantimes.com/business-news/rs-10-coin-is-valid-use-it-freely-says-rbi/story-NmJSkYK3ALym6uFetlV2SP.html
http://educationbhaskar.com/news/rs-10-coins-fake-banned/4634/
http://www.deccanherald.com/metrolife/metrolife-your-bond-with-bengaluru/10-rupee-coins-are-still-refused-by-many-743538.html
http://en.m.wikipedia.org/wiki/Indian_10-rupee_coin