Rs 10 coins are valid legal tender, says RBI as it appeals general public to continue to accept them
7 years, 2 months ago

Rs 10 coins are valid legal tender, says RBI as it appeals general public to continue to accept them

Firstpost  

The Reserve Bank has also advised banks to accept coins for transactions and exchange at all their branches The Reserve Bank of India on Wednesday denied that it has withdrawn legal tender status of Rs 10 coins thus putting to rest widespread rumours. The central bank 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 public to accept Rs 10 coins due to suspicion about their genuineness.” RBI reiterates legal tender status of ₹ 10 coins of different designshttps://t.co/XfOCuEvNst — ReserveBankOfIndia January 17, 2018 It is clarified that the Reserve Bank puts into circulation, the coins minted by mints, which are under the Government of India. So far, the Reserve Bank has issued Rs 10 coins in 14 designs and the public has been informed of their distinctive features, the central bank said on Wednesday. The Reserve Bank has in the past also issued a statement requesting members of the public to continue to accept coins of Rs 10 denomination as legal tender in all their transactions without any hesitation.

Bank Coins Accept Rbi Reserve Legal Tender Rs 10 Coins  reserve  tender  legal  accept  rs  valid  rbi  public  general  coins  transactions  bank  appeals  continue

History of this topic

97.87 pc of Rs 2000 notes returned, Rs 7,581 crore still in circulation, continue to be legal tender: RBI
8 months, 3 weeks ago

97.87 pc of Rs 2000 notes returned, Rs 7,581 crore still in circulation, continue to be legal tender: RBI

India TV News  

The total value of Rs 2000 banknotes in circulation, which was Rs 3.56 lakh crores at the close of business on May 19, 2023, when the withdrawal of Rs 2000 banknotes was announced, has declined to Rs 7581 crores at the close of business on June 28, 2024, the RBI said on Monday. "Thus, 97.87 per cent of the Rs …

RBI Says Rs 9330 Crore of 2000 Notes Yet to Return
1 year, 2 months ago

RBI Says Rs 9330 Crore of 2000 Notes Yet to Return

Deccan Chronicle  

HYDERABAD: The Reserve Bank of India on Monday said that banks have received 97.38 per cent of the Rs 2,000 denomination banknotes in circulation and only Rs 9330 crore worth of such notes are remaining with the public. The RBI had announced the withdrawal of Rs 2,000 denomination bank notes from circulation on May 19. People can still deposit and/or …

97.26 per cent of Rs 2000 notes returned, denomination continues to be legal tender: RBI
1 year, 3 months ago

97.26 per cent of Rs 2000 notes returned, denomination continues to be legal tender: RBI

India TV News  

The Reserve Bank of India on Friday stated that 97.26 per cent of the Rs 2,000 banknotes have been returned to the baking system. Rs 2000 banknotes still in circulation The central bank also said that about 2.7 per cent of Rs 2,000 banknotes are still in circulation, about two months after the deadline to deposit or exchange them at …

Rs 2000 Note Exchange: SC Declines Urgent Hearing For Plea Challenging Notifications Allowing Currency Exchange Without ID Proof
1 year, 9 months ago

Rs 2000 Note Exchange: SC Declines Urgent Hearing For Plea Challenging Notifications Allowing Currency Exchange Without ID Proof

ABP News  

The Supreme Court on Thursday declined urgent hearing of an appeal against the Delhi High Court order which dismissed a plea challenging the RBI’s decision permitting citizens to exchange Rs 2000 banknotes without any requisition slip and ID proof, as reported by ANI. The vacation bench of the apex court comprising Justice Sudhanshu Dhulia and Justice KV Viswanathan rejected the …

Exchange Rs 2,000 denomination currency notes without ID proof is valid: Court dismisses plea
1 year, 9 months ago

Exchange Rs 2,000 denomination currency notes without ID proof is valid: Court dismisses plea

India TV News  

The Delhi High Court on Monday dismissed a petition challenging the notifications enabling the exchange of Rs 2,000 denomination currency notes without any requisition slip and ID proof, saying it has been done to avoid inconvenience to citizens, and the court cannot sit as an appellate authority on a policy decision. The high court said the Public Interest Litigation is …

RBI defends before Delhi HC ₹2,000 banknote exchange exercise
1 year, 10 months ago

RBI defends before Delhi HC ₹2,000 banknote exchange exercise

The Hindu  

The Reserve Bank of India on Tuesday told the Delhi High Court that withdrawal of ₹2,000 notes is not demonetisation but a statutory exercise, and the decision to enable their exchange was taken for operational convenience. The petitioner has contended in his plea that notifications by the RBI and SBI enabling exchange of ₹2,000 banknotes without requisition slip and identity …

Rs 2000 Note Exchange: Punjab National Bank Clarifies There's No Need To Show ID Card, Fill Form
1 year, 10 months ago

Rs 2000 Note Exchange: Punjab National Bank Clarifies There's No Need To Show ID Card, Fill Form

ABP News  

State-run lender Punjab National Bank on Tuesday said there is no need to show any identity proof such as Aadhaar card or present any official verified documents as well as need to fill any form at any of its branches to exchange Rs 2000 currency notes, according to news agency ANI. The latest notification comes from PNB after old bank …

Why has RBI withdrawn Rs 2000 notes? How is this different from demonetisation?
1 year, 10 months ago

Why has RBI withdrawn Rs 2000 notes? How is this different from demonetisation?

Firstpost  

The Rs 2000 denomination of banknotes will no longer be in use. “In view of the above, and in pursuance of the ‘Clean Note Policy’ of the Reserve Bank of India, it has been decided to withdraw the Rs 2000 denomination banknotes from circulation,” the RBI said. Reserve Bank of India has advised banks to stop issuing Rs 2000 denomination …

Rs 2,000 notes to be withdrawn from circulation. Funny reactions flood social media
1 year, 10 months ago

Rs 2,000 notes to be withdrawn from circulation. Funny reactions flood social media

India TV News  

Rs 2,000 notes to be withdrawn: The Reserve Bank of India on Friday announced that Rs 2,000 currency notes will be withdrawn from circulation, however, the existing notes that are in circulation can either be deposited in bank accounts or exchanged by September 30, 2023. The bank notes in Rs 2,000 denomination will continue to be a legal tender, the …

Rs 2,000 Notes Will Remain Legal Tender Even After Sept 30. All Your Questions Answered
1 year, 10 months ago

Rs 2,000 Notes Will Remain Legal Tender Even After Sept 30. All Your Questions Answered

ABP News  

The Reserve Bank of India has announced the withdrawal of Rs 2,000 denomination banknotes from circulation while clarifying that existing Rs 2,000 notes will remain legal tender. Hence, in line with the "Clean Note Policy," the decision to withdraw Rs 2000 banknotes from circulation has been made, the central bank said. RBI said, "To ensure convenience for the public, a …

RBI withdraws ₹2000 notes from circulation: Read full text
1 year, 10 months ago

RBI withdraws ₹2000 notes from circulation: Read full text

Live Mint  

The Reserve Bank of India has decided to withdraw the ₹2000 denomination notes from circulation. In its announcement, the RBI said, “In view of the above, and in pursuance of the “Clean Note Policy” of the Reserve Bank of India, it has been decided to withdraw the ₹2000 denomination banknotes from circulation. The banknotes in ₹2000 denomination will continue to …

BREAKING | RBI Will Withdraw ₹2000 Notes From Circulation But They Will Continue As Legal Tender
1 year, 10 months ago

BREAKING | RBI Will Withdraw ₹2000 Notes From Circulation But They Will Continue As Legal Tender

Live Law  

The Reserve Bank of India today announced that it will withdraw ₹2000 notes from circulation. However, the currency will continue as Legal Tender.As per RBI, this denomination is not commonly used for transactions.People may deposit ₹2000 banknotes into their bank accounts and/or exchange them into banknotes of other denominations at any bank branch, RBI said. People may deposit ₹2000 banknotes …

RBI to withdraw Rs 2,000 currency note from circulation but it will continue to be legal tender
1 year, 10 months ago

RBI to withdraw Rs 2,000 currency note from circulation but it will continue to be legal tender

India TV News  

Reserve Bank of India on Friday said it will withdraw Rs 2000 currency note from circulation. RBI advised banks to stop issuing Rs 2000 denomination banknotes with immediate effect though banknotes in Rs 2,000 denomination. The Reserve Bank of India on Friday announced withdrawal of Rs 2,000 currency notes from circulation, and existing notes in circulation can either be deposited …

RBI will back Digital Rupee, other cryptocurrencies will not be legal tenders
3 years, 1 month ago

RBI will back Digital Rupee, other cryptocurrencies will not be legal tenders

Op India  

After Finance Minister Nirmala Sitharaman announced that RBI will launch a digital Rupee in her budget speech yesterday, Finance Secretary TV Somanathan has confirmed that India’s digital currency will be backed by the Reserve Bank of India which will be the only legal digital currency in the country. He also added that other digital currencies or cryptocurrencies will never become …

Bitcoin, Ethereum, other cryptocurrencies will never become legal tender in India, says Govt official
3 years, 1 month ago

Bitcoin, Ethereum, other cryptocurrencies will never become legal tender in India, says Govt official

India Today  

Bitcoin, Ethereum, and other cryptocurrencies along with non-fungible tokens will never become legal tender in India, Finance Secretary TV Somanathan said on Wednesday. The Finance Secretary's statement comes a day after Finance Minister Nirmala Sitharaman in the Union Budget 2022 announced income from the transfer of any virtual digital asset will be taxed at the rate of 30 per cent. …

This is What RBI Has to Say About Old Rs100 Notes Going Out of Circulation by March
4 years, 1 month ago

This is What RBI Has to Say About Old Rs100 Notes Going Out of Circulation by March

News 18  

Putting an end to speculations regarding the withdrawal of old currency notes of Rs 100, Rs 10 and Rs 5 from circulation, the Reserve Bank of India clarified over social media that the information is incorrect. Recently, RBI had been making headlines with regards to a report that claimed it is planning to withdraw the old series of currency notes …

Banks in Andhra, Telangana turn dumps for ₹10 coins
5 years, 6 months ago

Banks in Andhra, Telangana turn dumps for ₹10 coins

The Hindu  

A reluctance on the part of public and trade in the Telugu speaking States to accept ten rupee coins is leading to banks building up a pile that is fast eating into the space in strong rooms and proving expensive to shift. It had said this in view of “reluctance on the part of traders and members of public, in …

Telangana: Traders reject Rs 10 coin as rumours spread on validity
7 years, 10 months ago

Telangana: Traders reject Rs 10 coin as rumours spread on validity

Deccan Chronicle  

Hyderabad: Merchants, traders and even roadside vendors are unwilling to accept Rs10 coins, as rumours of their validity are spread like wildfire. Besides, the RBI has also officially announced that the Rs10 coin will not be withdrawn as legal tender.” The RBI official added: “So far, we haven’t received any complaint on the issue and no banker has noticed any …

Fake Rs 10 coins; people want RBI to take action
8 years, 3 months ago

Fake Rs 10 coins; people want RBI to take action

Deccan Chronicle  

PUDUKKOTTAI: In yet another unseemly fallout of the Centre’s demonetisation of two high value currencies last month, traders and general public in Pudukkottai district are shocked at fake Rs 10 coins circulating here on a large scale. Consequently, most traders across Pudukkottai district have appealed to the Reserve Bank Of India and other authorities concerned to check the menace of …

RBI to issue new Rs 20, Rs 50 notes soon; old notes to remain legal tender
8 years, 3 months ago

RBI to issue new Rs 20, Rs 50 notes soon; old notes to remain legal tender

ABP News  

NEW DELHI: The Reserve Bank of India today announced that it will shortly issue new Rs 50 and Rs 20 bank notes. Full text of RBI's announcement: The Reserve Bank of India will shortly issue ₹ 50 denomination banknotes in the Mahatma Gandhi Series-2005, without inset letter in both the number panels, bearing signature of Dr. Urjit R Patel, Governor, …

Demonetisation: RBI eases withdrawal limits for deposits made in legal tender
8 years, 3 months ago

Demonetisation: RBI eases withdrawal limits for deposits made in legal tender

ABP News  

MUMBAI: To encourage people to deposit valid currency notes in banks, RBI today said bank customers would be able to withdraw deposits made in current legal tender notes beyond the current limits, a move aimed at increasing currency circulation in system. For example, if someone deposits valid legal tenders of Rs 4,000, the withdrawal limit for that person would rise …

Fake Rs 10 coins in circulation: RBI flays rumours, calls it 'legal tender'
8 years, 4 months ago

Fake Rs 10 coins in circulation: RBI flays rumours, calls it 'legal tender'

Firstpost  

Mumbai: Dispelling rumours of fake Rs 10 coin in circulation, Reserve Bank of India asked people not to give credence to such canards and continue to accept these coins as legal tender in all their transactions without any hesitation. It further said RBI puts into circulation coins minted by the Government of India and these have distinctive features. Coins in …

Those refusing Rs 10 coin in UP could face sedition charge
8 years, 6 months ago

Those refusing Rs 10 coin in UP could face sedition charge

India TV News  

Quelling the rumours that Rs 10 coin has been withdrawn and declared invalid, district authorities in Uttar Pradesh’s Pilibhit have said that anybody refusing to accept the currency could be charged with sedition. "The Rs 10 coin is a national currency and no one has the right to refuse it as the government of India promises to pay the value …

RBI to withdraw banknotes issued prior to 2005
11 years, 2 months ago

RBI to withdraw banknotes issued prior to 2005

India TV News  

New Delhi: The Reserve Bank of India has decided to withdraw all banknotes issued prior to 2005 with effect from April this year. A press release said, the Reserve Bank of India has today advised that after March 31, 2014, it will completely withdraw from circulation all banknotes issued prior to 2005.From April 1, 2014, the public will be required …

Parliament Allows Govt To Mint Upto Rs 1,000 Denomination Coins
13 years, 7 months ago

Parliament Allows Govt To Mint Upto Rs 1,000 Denomination Coins

India TV News  

New Delhi, Aug 11: Parliament today permitted the government to mint coins of Rs 1,000 denomination even as nostalgia over withdrawal of 25 paise coins was witnessed among Rajya Sabha members. The Coinage Bill, 2009 passed by the Upper House, limits payment by an individual through coins up to Rs 1,000, Finance Minister Pranab Mukherjee said, replying to a debate …

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