RBI says Rs.10 coin is still valid

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The RBI has clarified that rumours surrounding the phasing out of the Rs.10 coin are just rumours and that the coin is still legal tender. RBI Principal Adviser, Alpana Killiwala, also confirmed that the coin is still legal tender and that it can still be used for any transaction.

In a press release the RBI said the confusion surrounding the validity of Rs.10 coin were avoidable and requested members of the public to ignore them. It also said that both the old, minted before July 2011, and the new Rs.10 coins were still valid. The press release also clarified that there were minor changes made to some coins, the addition of the rupee symbol. The rupee symbol appears on coins minted after July 2011.

The source of the misinformation is still not clear but may shopkeepers, traders, auto rickshaw drivers, etc. are refusing to accept Rs.10 coins. The Time of India reported that a police official confirmed the coins are still legal tender and said refusing to accept them can result in legal action.

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