Daijiworld Media Network
New Delhi, Jan 18: The RBI has clarified that all 14 designs of Rs 10 coins are valid and legal tender. The clarification came after many traders started rejecting them, doubting if they are genuine.
"It has come to the notice of the Reserve Bank that in certain places there is reluctance on part of traders and members of the public to accept Rs 10 coins due to suspicion about their genuineness," said the RBI in a press release.
"So far the Reserve Bank has issued Rs 10 coin in 14 designs. All these coins are legal tender and can be accepted for transactions. 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," informed the RBI.
Since currency coins have longer life, coins of different designs and shapes circulate in the market at the same time.
The Reserve Bank has also advised banks to accept Rs 10 coins for transactions and exchange at all their branches. The new Rupee 10 currency note, which are in chocolate brown colour are also released.
The oldest Rs. 10 coin was issued on March 26, 2009. The face of the coin is divided into three portions with two horizontal lines. The centre portion bears the lion capitol of Ashoka pillar with "satyamev jayte" written in Hindi written below. The latest Rs. 10 coin was released on June 29, 2017 and has the portrait of Shrimad Rajchandra in the centre. The coin was released to commemorate the 150th birth anniversary of Shrimad Rajchandra.