RBI says all 14 types of Rs 10 coin valid, legal tender

Dispelling rumours and addressing the reluctance of traders to accept Rs 10 coins, the Reserve Bank of India said that all of the 14 designs of the coin are valid and legal tender for transactions. "It has come to the notice of the Reserve Bank that in certain places there is reluctance on part of traders and members of public to accept Rs 10 coins due to suspicion about their genuineness," the RBI said.

In a statement, the central bank clarified that it puts the coins minted by government mints into circulation. These coins have distinctive features to reflect various themes of economic, social and cultural values and are introduced from time to time.

"So far the Reserve Bank has issued Rs 10 coin in 14 designs... All these coins are legal tender and can be accepted for transactions," the RBI said.

It has also asked banks to accept coins for transactions and exchange at all their branches.

Since its release in 2009, the RBI has released 14 kinds of Rs 10 coins over time. The RBI also clarified that coins have longer shelf life.

Meanwhile, on January 5, the RBI unveiled its new Rs 10 banknote under the Mahatma Gandhi series. The new banknote will be chocolate brown in colour and will bear the signature of RBI Governor Urjit Patel. The new note will have the motif of the Konark Sun Temple and will also have the Swachh Bharat logo with its slogan. #casansaar (Source - PTI, Business Today)