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RBI tells banks to find ways to push Rs 10 coins

Such is the stock of Rs 10 coins in banks across the state, that a few banks have reportedly stopped accepting the coin from customers, he said.

Published: 22nd January 2021 06:21 AM  |   Last Updated: 22nd January 2021 06:21 AM   |  A+A-

Money laundering: Banks, RBI officials and many more fell victim to the taxman and Enforcement Directorate sleuths during demonetisation.

Reserve Bank of India. (File Photo | PTI)

Express News Service

MANGALURU: 15 years after its introduction, the Rs 10 coin has failed to find acceptance by a majority of trades and services, and has turned into a headache for banks and the Reserve Bank of India (RBI). In fact, there are mini mountains of Rs 10 coins in currency chests in banks, said B Mahesh, Assistant General Manager, RBI, at the District Level Currency Management Committee meeting held in Mangaluru on Thursday. 

Such is the stock of Rs 10 coins in banks across the state, that a few banks have reportedly stopped accepting the coin from customers, he said. He advised banks to find innovative ways to push the legal tender, like putting out advertisements and promotion campaigns to kill rumours surrounding the jinxed coin, and educate the masses that the coins are not counterfeit. Meanwhile, old currency notes of Rs 100 will not be in circulation from May, with the RBI planning to withdraw them by March/April. 



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