why ten rupee coin is not accepted

why ten rupee coin is not accepted

In July 2016, some shopkeepers in India were reported to be refusing to accept the ₹ 10 coin entirely, the result of a rumour circulating on social media. [9] [10] It was initially claimed that coins with a 15 notch reverse design lacking the ‘₹’ symbol were fake, compared to the 10 notch version using the symbol introduced in 2011.
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]

Why ten rupee coin is not accepted
The Reserve Bank further said that it has issued 14 different designs, and also informed about the disticitve features of the same in various press releases. “As coins have longer life, coins of different designs and shapes circulate in the market at the same time. So far the Reserve Bank has issued ₹ 10 coins in 14 designs and the public has been informed of their distinctive features through Press Releases (list appended). All these coins are legal tender and can be accepted for transactions,” the apex bank noted.
“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.

Why ten rupee coin is not accepted
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.”
On Wednesday, RBI again confirmed the legal status of all 14 types of Rs 10 coin issued by it. The move came after RBI received multiple reports about these coins being rejected as being fake during transactions.

Why ten rupee coin is not accepted
Denying 1 rupee coin
All coins are valid

Why ten rupee coin is not accepted
In January, the Reserve Bank of India repeated yet again that Rs 10 coins are legal, but many trades and services in Bengaluru continue to turn them down.
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