RBI says 10-rupee coin very much in use, refusal may invite legal action

GURGAON: 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

GURGAON: 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 rum ours that the coin was banned.

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Reports have poured in of shopkeepers, kiosks owners and auto-rickshaw drivers in and around Delhi returning Rs 10 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 are legal tender .”

Some rumours said counterfeit coins in two designs had flooded the market. The others claimed the RBI had phased out the coins and those in circulation were fake. There was also talk of the gold polish coming off.

“Nobody is accepting Rs 10 coin. They say the coins are fake,” said Vishal, who works at a workshop in Gurgaon. Similar reports have come in from Faridabad, Noida and Meerut. People even visited banks to exchange the coins for notes.