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 bogus Rs 10 coins doing the rounds fairly liberally. Even if they accepted the Rs 10 coins from customers, the same customers did not accept the coins when traders pay them back in tendering change. Moreover, When traders went to the bank to deposit the Rs 10 coins, the bank men also refused to accept them, saying the coins are ‘bogus’, he said, and urged the RBI to step in remedy the situation.

Coins Rbi Pudukkottai Rs 10  coins  rs  district  vegetable  demonetisation  bank  fake  action  bogus  traders  rbi  pudukkottai

History of this topic

Banks in Andhra, Telangana turn dumps for ₹10 coins
5 years, 7 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 …

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coins for transactions and exchange at all their branches The Reserve Bank of India on Wednesday denied that it has withdrawn legal tender status of Rs 10 coins thus putting to rest widespread rumours.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 …

Bitcoin rally: Sebi to crack down on illicit coin offers, ponzi schemes but not to take on regulator mantle
7 years, 3 months ago

Bitcoin rally: Sebi to crack down on illicit coin offers, ponzi schemes but not to take on regulator mantle

Firstpost  

Sebi is not keen to take on the mantle of a regulator for such ’trading’ – currently being offered on a number of so-called exchanges despite there being no rules in this regard – as the underlying product New Delhi: Market watchdog Sebi will come down heavily on illicit ‘initial coin offers’ seeking public investments with promise of high returns …

Telangana: Traders reject Rs 10 coin as rumours spread on validity
7 years, 11 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 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 …

RBI warns on fake currency: Here's how you can spot a counterfeit note
8 years, 5 months ago

RBI warns on fake currency: Here's how you can spot a counterfeit note

Firstpost  

The RBI site has the detailed information on the security features on the banknotes; here we have compiled it After the ATM security breach comes the fake currency threat. “It has come to our notice that unscrupulous elements are putting into circulation Fake Indian Currency Notes of higher denominations in the course of normal transactions, taking advantage of the gullible …

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 …

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