All 14 types of Rs 10 coin are valid, legal tender for transactions: RBI

Mumbai, January 17: The Reserve Bank of India (RBI) on Wednesday while clarifying said that all the 14 designs of Rs 10 coin are valid and legal tender for transactions. Notably, the clarification from RBI came amid reluctance by certain traders to accept the coins.

 

Releasing a 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."

In a statement, the RBI also clarified that it puts into circulation the coins minted by government mints. These coins, it further said, have distinctive features to reflect various themes of economic, social and cultural values and are introduced from time to time.

"So far the Reserve Bank has issued Rs 10 coin in 14 designs. All these coins are legal tender and can be accepted for transactions," the RBI said. The RBI has also asked all the banks to accept coins for transactions and exchange at all their branches.

BACKGROUND:

The oldest Rs. 10 coins were issued way back on March 26, 2009. The face of the coin is divided into three portions with two horizontal lines. The centre portion bears the lion capitol of Ashoka pillar with "Satyamev Jayate" written in Hindi written below. While on the reverse side, Rs. 10 is written in international numerals and in the lower periphery, the word "rupee" is written in Hindi and English.

However, the latest Rs. 10 coins were released on June 29, 2017. The coin had the portrait of Shrimad Rajchandra in the centre. Importantly, the coin was released to commemorate the 150th birth anniversary of Shrimad Rajchandra. In the month of April last year, RBI had released a Rs. 10 coins to commemorate the one hundred twenty-five years of National Archives of India. This face of the coin bears the image of National Archives Building in the centre.