RBI – If you also have five and ten rupee coins, you must read this news. Actually, let us tell you that recently RBI has issued guidelines for the general public. Knowing which will be beneficial for you…
This might have happened to you at some point or the other, when an auto driver, a vegetable vendor or a shopkeeper refused to accept the Rs 10 coin and when asked the reason, the answer came that the government has stopped this practice. Has been discontinued, or the coin you have given has never been issued. That means he is fake.
This situation can get you into trouble many times. In such a situation, the question that comes to mind is whether something like this has really happened, and if not, what should you do in this situation? Also, have any rules been made regarding this in India? Let us know about it in detail.
Who issues coins?
Apart from Rs 10 coin, coins of Rs 1, Rs 2, Rs 5 and Rs 20 are in circulation in India. All these coins are issued by RBI and can come in the market with more than one design. In such a situation, all types of coins are valid and no one can refuse to accept them by calling them fake.
Only this coin has been banned-
According to RBI, till now only coins worth 25 paise or less have been banned and their circulation has been stopped. At the same time, 50 paise coins are not issued, but they are still present in the system and no person can refuse to accept them.
What to do if someone refuses to accept the coin?
If any person or shopkeeper refuses to accept the Rs 10 coin, then in such a situation a complaint can be filed against him and the shopkeeper may have to face strict legal action. According to NCIB (National Crime Investigation Bureau), an FIR can be lodged against it under sections 489(A) to 489(E) of the Indian Currency Act and IPC. Additionally, the police can also be called for immediate assistance.
