All 14 types of Rs 10 coin are valid legal tender

All 14 types of Rs 10 coin are valid legal tender

Clearing the confusion caused by certain traders, the RBI has clarified that all 14 types of the Rs 10 coin are valid and are legal tender. This comes after certain traders raised questions over the 'genuiness' of the different variants of the Rs 10 coin and, hence, rejected them during transactions.

"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," said the RBI.

The central bank clarified that it puts into circulation the coins minted by government mints. These coins are introduced time to time and have distinctive features to reflect on themes of economic, social and cultural values.

"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.

It has also asked banks to accept coins for transactions and exchange at all their branches.

Meanwhile, RBI has already rolled out the new Rs 10 notes and these will be chocolate-brown in colour.

(With inputs from PTI)