10 coin still legal tender, clarifies RBI official
Deputy General Manager of Reserve Bank of India (RBI) C Nageshwar Rao, while taking part in Bankers Meeting in Mahbubnagar on Monday, cleared the air...
Mahbubnagar: Deputy General Manager of Reserve Bank of India (RBI) C Nageshwar Rao, while taking part in Bankers Meeting in Mahbubnagar on Monday, cleared the air over legal tender of Rs 10 coin. He said the RBI has not taken any decision to stop the usage of 10-rupee coins and the people should not believe in any rumours. He also urged the bankers to create awareness among the customers about this.
“Post demonetisation of high-value currency, there has been many doubts in the minds of bankers and the public alike. In view of this, we want to clear all their doubts. There is a misinformation being circulated regarding the usage of 10-rupee coin. I again reaffirm that the RBI has not taken any decision to stop it and nobody should believe in rumours,” said Nageshwar Rao.
The RBI deputy general manager has urged the bankers to promote more online or digital banking. “To strengthen our economy, we all need to promote and encourage cashless transactions. The bankers must play a key role in moulding the customers to opt for cashless transactions through ATMs, online, internet baking, mobile banking, credit/debit cards and also promote mobile apps like BHIM, UPI & USSD to promote cashless transactions among customers,” observed the RBI DGM.
Later, the DGM inaugurated the Coin Mela at Clock Tower and distributed small change to the members of small businesses like grocery stores, account holders and general public. M Mishra, Assistant General Manager of RBI, Alladi Picchaiah, AGM Andhra Bank along with AGMs of other banks in the district participated in the programme.