ten rupee coin banned

ten rupee 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]

Ten rupee coin banned
*The reporter went to a milk parlour in the railway station and they accepted the coin without any complaints.
‘We know it‘s legal, but won’t take it’

Ten rupee 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.
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.

Ten rupee coin banned
“Passengers do not want the Rs 10 coin. I try to reason with them but to no avail,” said Anurag Yadav, who drives an auto rickshaw in Delhi.
“Nobody is accepting R10 coin. They say the coins are fake,” said Vishal, who works at a workshop in Gurgaon. Similar reports have come in from national capital region towns such as Faridabad, Noida and Meerut.

Ten rupee 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.
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.

References:

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/
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://m.economictimes.com/topic/Fake-Rs-10-coins