Rumors Regarding Fake 10 Rupees Coins Dispelled!

The Reserve Bank of India (RBI) has issued a Press Release today to address concerns regarding the acceptance of 10 rupees coins by certain traders and the general public, fueled by rumors questioning their authenticity.

In the press release, the RBI stated, "It has come to the notice of the Reserve Bank that in certain places there is reluctance on the part of traders and members of the public to accept ₹10 coins due to suspicion about their genuineness."

The RBI unequivocally clarified that these coins are minted by the India Government Mint, also known as the Security Printing and Minting Corporation of India Ltd (SPMCIL). These coins are introduced periodically, featuring themes based on economic, social, and cultural values as commemorative issues.

Currently, there are 14 different designs of 10 Rupees coins in circulation, all of which hold legal tender status. The distinctive features of each design have been communicated to the public through Press Releases, and the list has been appended for reference. The RBI emphasized that, given the longer lifespan of coins, it is common for multiple designs and shapes to coexist in the market simultaneously.

In response to the concerns raised, the central bank further advised that all these coins are acceptable for transactions, and banks have been explicitly instructed to facilitate the exchange of coins at all their branches. The RBI encourages the public to disregard any unfounded suspicions and continue to use these legal tender coins without hesitation.