The Reserve Bank of India states that in few place, the traders or the general public has refused to accept the Rs 10 coins with regards to the coins being inclined towards fake or duplication.
On Wednesday, the RBI (Reserve Bank of India) restated the status of the Rs 10 coins tender, which was initiated by the bank. The reiteration of the legal status was the result of several reports being reported on the rejection of the coins for transactions in the market for its genuineness. Commenting on the issue, The Reserve Bank of India issues their statement, which says that the general public has been kept informed of the fourteen varied designs and features of the Rs 10 coin. The statement further reads that the coin minting centers of government have issued the coins in 14 varied feature with themes like social, cultural and economic ethics which making these coins legal under the tender status which has to be utilized for the transaction and will be circulated on timely bases in the market.
The Reserve Bank of India has also requested the other banks to accept the varied coins of Rs 10 for the transaction and also accept it for an exchange at all their divisions. The bank further state that due to the un-acceptance of the Rs 10 coins in the general public and traders, the bank is planning to come up with Rs 10 notes with new theme and design.
As per the bank, the Rs 10 note will be in chocolate brown color with same length and width (63mm) while making it available with the similar “Mahatma Gandhi” series that still exists along with “Konark Sun Temple” motif on the other side of the note. The Rs 10 banknote will be lesser in length than the current note length, i.e., 137 mm. The bank further mentions that the bank notes with Rs 10 denomination will be accepted under the tender status and considered to be legal.