rs 10 coin banned

rs 10 coin banned

The third design of the ₹10 coin, minted since 2011 features the lettering “भारत” on left and “INDIA” on right on the outer ring, and the year of mint and mint mark below. At the center part of the coin’s obverse is the Lion capital with the lettering “सत्यमेव जयते” below it. On the reverse it features 10 notches with the ₹ sign below it, and the number 10 below the ₹ sign. [6] [7]
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]

Rs 10 coin banned
India News | Indo-Asian News Service | Wednesday November 16, 2016
The central bank will also put into circulation new Rs 5 coins to celebrate 150th anniversary of Allahabad High Court.

Rs 10 coin banned
Earlier this month, RBI had said that it will shortly issue Rs 10 denomination banknotes in the Mahatma Gandhi (New) Series, bearing signature of Dr. Urjit R. Patel, Governor, Reserve Bank of India. “The new denomination has motif of Sun Temple, Konark on the reverse, depicting the country’s cultural heritage. The base colour of the note is Chocolate Brown. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse,” RBI said in a press release.
Are you worried about the Rs 10 coin lying around in your pocket, which your neighbourhood vendor has again declined to accept? India’s apex bank RBI may soon give you a personal phone call to inform you that you need not fret. Those coins are still very much a legal tender and perfectly acceptable. Perturbed about the rumours flying on the social media about Rs 10 coins no longer being valid, India’s central bank has taken a novel step to reach out to people to tell them that nothing of the sort is true.

Rs 10 coin banned
Reports have poured in of shopkeepers, kiosks owners and auto rickshaw drivers in and around Delhi returning R10 coins and asking for currency notes after a WhatsApp message, shared widely, claimed the coin was declared invalid by the central bank.
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.

Rs 10 coin banned
All 14 types of the Rs 10 coin issued so far are legal, the RBI has confirmed.
‘Got a note instead?’

References:

http://www.ndtv.com/topic/rs-10-coin
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://www.deccanherald.com/metrolife/metrolife-your-bond-with-bengaluru/10-rupee-coins-are-still-refused-by-many-743538.html
http://www.financialexpress.com/money/worried-about-rs-10-coins-you-may-soon-get-a-phone-call-from-rbi-saying-all-is-well/1028589/