Reserve Bank of India has issued a statement to the general public about the status of Rs 10 coins. In the statement, the bank has requested the common public and the traders about the number and different styles of Rs 10 coins in the market. In its statement, RBI said: “It has come to the notice of the Reserve Bank that in certain places there is reluctance on part of traders and members of the public to accept Rs 10 coins due to suspicion about their genuineness.” The RBI further stated: “It is clarified that the Reserve Bank puts into circulation, the coins minted by mints, which are under the Government of India. These coins have distinctive features to reflect various themes of economic, social and cultural values and are introduced from time to time.” Significantly, this is the second statement from RBI about the Rs10 coin’s genuineness since November 2016.
So far, the Reserve Bank has issued 14 different types of Rs 10 coin, with the first series of coins released in 2009. Reserve Bank of India also stated: “Public has been informed of their distinctive features. These coins are legal tender and can be accepted for transactions”.
RBI also stated the reason for which they started minting coins as “coins have longer life”. RBI also stated: Coins of different designs and shapes circulate in the market at the same time.” The advisory from the Reserve Bank stated that banks should accept coins for transactions and exchange at all their branches.
In its 2016 statement, RBI wrote, “Coins in new designs reflect various themes – economic, social and cultural are introduced from time to time. One such change is the introduction of ‘Rupee symbol’ in coins in July 2011. An instance of this is the Rs 10 coins with rupee symbol and the same denomination coin without rupee symbol. Both of them are legal tender and equally good for transactions, though they may look a little different.”
Meanwhile, on January 5, RBI said that it will shortly issue Rs 10 denomination banknotes in the Mahatma Gandhi (New) Series. The new type of currency notes will have the signature of RBI governor Urjit Patel. In its press release, RBI wrote: “The new denomination has a motif of Sun Temple, Konark on the reverse, depicting the country’s cultural heritage. The base colour of the note is Chocolate Brown. The note has other designs, geometric patterns aligning with the overall colour scheme, both at the obverse and reverse.”