It is due to the false rumour been circulated around Bengaluru that “there has been fake 10 rupee coins under circulation which RBI demonetised”. since the small vendors who are already affected by demonetisation of 500 and 1000 INR considered this seriously and denying the transactions with 10 rupee coins.
Is 10 rupee coin valid in Karnataka?
In spite of issuing clarifications by Reserve Bank of India and Government Ministers, in unambiguous words, a ten rupee coin is not accepted in Bengaluru and some other parts of Karnataka. Similar was the case with currency note of Rs 20 denomination. …
Where can I exchange coins for notes in Bangalore?
The RBI Offices, where Issue Department is functioning, offer the facility to members of the public to exchange their notes including soiled and mutilated notes and coins including uncurrent or worn out coins. The Bank is committed to provide exchange facility free of cost at its counters during business hours.
What is the cost of minting a 10 rupees coin?
Furthermore, the cost of manufacturing ₹5 and ₹10 coins is ₹3.69 and ₹5.54 respectively, the RBI said.
Why is 10 RS coin not accepted?
It was later clarified by the Reserve Bank of India (RBI) that the “alleged fake” coin was the earlier 2008 design, which predated the adoption of the ‘₹’ symbol in 2010, and was still in legal circulation, along with the 2011 design and those refusing to accept it could face legal action.
Why is 10 rupee coin not accepted?
“Rs 10 coin is Legal Tender issued by the RBI and failure to receive and accept the same is an Offence punishable under Law. … Don’t know why the traders are not accepting the coins. In case people face any issue regarding the same, they can lodge their complaints against commercial establishments at any police station.”
Do Indian banks accept coins?
RBI has not prescribed any limit for coin deposits by customers with banks. Banks are free to accept any amount of coins from their customers.
Will banks accept old coins?
Your bank may swap or deposit old paper notes and coins.
Banks don’t legally have to accept old paper notes and coins once they’ve been withdrawn from circulation. However, some may continue to allow you to swap them while others may let you deposit old notes and coins into your account.
How Indian get rid of coins?
Services Available at RBI Issue Offices
The RBI Offices, where Issue Department is functioning, offer the facility to members of the public to exchange their notes including soiled and mutilated notes and coins including uncurrent or worn out coins.
WHO issued 10 rupees coin?
The coins are issued for circulation only through the Reserve Bank in terms of the RBI Act. Coins in India are presently being issued in denominations of 10 paise, 20 paise, 25 paise, 50 paise, one rupee, two rupees and five rupees.
What can you get for 10 rupees?
Do you just have a 10-rupee note in your pocket?
11 Very Useful Things You Can Buy With Just Rs. 10
- Five Rs. …
- An RTI application form. …
- Parle G biscuits and a cutting. …
- Ice Candy. …
- A bus ticket. …
- A matchbox. …
- Paracetamol tablets. …
- Safety Pins.
What is the price of old 10 rupee note?
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