DO NOT GET MISLEAD BY SOCIAL MEDIA RUMORS THE COINS ARE VALID SAID RBI

There is a rumor being spread on the social media (WhatsApp) by some miscreants about the non-validity of the 10 rupees coins which is completely false. According to to the sources in the RBI, your 10 rupees coins are very much valid and acceptable hence please do not get panicked or fall prey to such rumors.

According to the sources in RBI, the old and new 10 rupees coins are valid tenders and those who do not accept it may have to face the legal action. Amid confusion over the validity of Rs 10 coins, the Reserve Bank of India on Monday asserted that all such coins were legal tenders. “The Reserve Bank of India advise members of the public not to give credence to such ill-informed notions and ignore them and continue to accept the Rs 10 coins as legal tender in all their transactions without any hesitation,” said RBI Principal Adviser Alpana Killiwala.

According to the sources, due to the rumours that have been spread over the social media platform some the vendors are refusing to accept the 10 rupees coins but 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. The complaints have poured in from 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. “Nothing of that kind has happened. We have not even thought of it,” RBI spokesperson Alpana Kilawala said. “People should not hesitate in using the coins for transactions as these coins are legal tender.”

THE OLD 10 RUPEES COIN RELEASED IN 2008 AND IT IS VALID (SOURCE)
THE NEW 10 RUPEES COIN RELEASED ON 2012 AND IT IS VALID (SOURCE)

In Goa too the local bus operators and some kiosk owners are refusing to accept the coins of rupees 10 which is the illegal act and in the case of a complaint the said vendors or bus operators may get prosecuted for denying to accept the legal tender issued by the RBI, said the sources. According to the reports published in the TOI Goa edition, a rumor circulating on social media regarding the legitimacy of Rs 10 coins has resulted in conductors of private buses operating through the Panaji bus terminus refusing to accept the tender. Those on the state-run Kadamba Transport Corporation Limited (KTCL), however, continue to accept the currency.

There is a huge chaos amongst the vendors and private bus owners over the acceptance of the 10 rupees coins in the state, said the sources. “We heard that duplicate coins are flooding the market and banks have demonetized even the real ones. The bus owners instructed us not to accept the coin,” said Nilesh Gadekar, a bus conductor on the Panaji-Mapusa route. “Initially, some of us ignored the message, but, slowly, since most other conductors began to discontinue acceptance of these coins, we did too,” said another bus conductor Sameer Mandrekar. but when the media persona asked them if they have received any notification from their respective banks or even the RTO instructing them not accept these coins, they answered in the negative. (reports TOI)

Meanwhile, the state-run KTCL (Kadamba Transport Corporation Limited) bus conductors are still accepting the coins. “After we realized that our counterparts in the private bus sector are not accepting Rs 10 coins, we checked with our respective banks. They have told us that the news about their demonetization is false,” said KTCL conductor Suresh Govekar. TOI also checked with businessmen on the Panaji bus stand. Most are still accepting coins of the denomination though a few have given into their fears. “If the coin really has been demonetized and there is also fake currency circulating in the market, there really is no point in continuing to accept it,” said the owner of a superstore, Hamid Issani.

IN GOA KADAMBA BUS SERVICE ACCEPTS THE 10 RUPEES COINS (SOURCE)

In yet another case the Navelim-based newspaper vendor Suraj Naik said, “My customers suddenly stopped accepting Rs 10 coins saying that the bus conductors are not accepting them, leaving me with no choice but to refuse these coins from my clients. I have already made a couple of deposits of such coins worth Rs 2,000 and Rs 5,000 earlier in two other nationalized banks.” But the issue of acceptance will come into the force only after the intervention of government machinery. There is a huge need of awareness creation amongst the local public about the rumors and make sure that they do not get panicked.

Nevertheless, this news could help many who is facing the problems with the exchange of currency especially the new and old coins of rupees 10. They can now get in touch with the nearby RBI branch and lodge their grievances along the details and the RBI officials as mentioned will take the required action against the people involved into such malpractices.

NEWS SOURCE : VARIOUS SOURCES | IMAGE SOURCE        

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