People refuse 10 coins, doubts over validity still persists

People refuse 10 coins, doubts over validity still persists
Highlights

The rumour that Rs.10 coins are not valid is spreading like wildfire and many people including the small vendors to owners of the big establishments are in no mood to accept these coins anymore. A sense of uncertainty is still persisting among the people of the tri-cities in Hanamkonda, Kazipet and Warangal.

Warangal: The rumour that Rs.10 coins are not valid is spreading like wildfire and many people including the small vendors to owners of the big establishments are in no mood to accept these coins anymore. A sense of uncertainty is still persisting among the people of the tri-cities in Hanamkonda, Kazipet and Warangal.

Small traders and vegetable vendors are already facing hardship due to demonetisation. Now this rumour that the Rs.10 coins are invalid is adding to their woes.

Many people who run retail shops in the tri-cities are pointing out that they are holding back the Rs.10 coins as many of their customers were unwilling to accept them. Some of them have even stopped accepting the coins as there were no takers.

Manohar, a retail shop owner lamented, “My customers stopped accepting Rs.10 coins saying that the coins are not accepted by anyone outside. Even if we accept the coins, nobody is ready to take it from us. As a result, these coins are piling up with us”.

Some of the bank officials are also not accepting the coins saying that they had already enough number of coins with them and shortage of space to store them in the bank, he added.

Though the Reserve Bank of India has clarified that the coins of Rs.10 denomination were legal tender and advised public not to believe in rumours, still there is an air of uncertainty over them with people hesitating to accept them.

A bank official in Hanamkonda clarified that there was no move either from the Government of India or from the Reserve Bank of India declaring that the Rs.10 coins as invalid. “This is a false information and the Rs.10 coins are legal tender,” he added.

Speaking to The Hans India here on Friday, Ram Murthy, Manager of nationalised bank said, “There is no such move by the RBI to withdraw Rs.10 coins and an FIR could be registered against the person for refusing them.

I have come across this rumour which is doing rounds. Bank officials have been asked to spread awareness among the people and tell them not to create panic”.

R Rajendra Prasad, an advocate said, “Some ignorant or uninformed persons are spreading the rumour that Rs.10 coins are invalid which has created confusion among the people and doubts in the minds of traders and shopkeepers”.

“The Rs.10 coin is a national currency and no one had the right to refuse it as the Government of India promises to pay the value of the currency to the bearer.

The rumour that is being circulated is wrong and any person who refuses to accept the coin can be booked under Section 489-A to 489-E of the Indian Penal Code”, he added.

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