State Bank of India asks people, traders to accept Rs. 10 coins

The SBI held an awareness campaign on acceptance of Rs. 10 coins for traders in coordination with the Reserve Bank of India(RBI) at the Bank's zonal office.

Warangal: To remove misconceptions and to address the issue of reluctance among traders and the public to accept Rs.10 coins due to suspicion about their genuineness, the State Bank of India (SBI) officials on Saturday distributed Rs.10 coins among traders and people of the city.

The SBI held an awareness campaign on acceptance of Rs. 10 coins for traders in coordination with the Reserve Bank of India(RBI) at the Bank’s zonal office.

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SBI Hyderabad Circle General Manager Prakash Chandra Baror said there appears to be a reluctance among traders, small businessmen and people to accept Rs.10 coins. This reluctance seems to stem from suspicion arising out of fake messages about the genuineness of these coins, spread around the State by unscrupulous elements, he said.

As part of the campaign pamphlets about the usage of Rs. 10 coins would be placed at kirana shops, retail outlets, small business establishments, he said, adding that in all the SBI branches Rs. 10 coins would be made part of the cash withdrawals.

The Rs. 10 coins being circulated by the RBI in various themes, sizes and designs were legal tender and could be used for all transactions, he said.

Stating that it was crucial to understand that Rs.10 coins were issued by the Government of India and hold the status of national currency, he said that no one could refuse them, as the government guarantees their value.

If someone denies accepting genuine Rs.10 coins, it could be considered an offense under Sections 489A to 489E of the Bharatiya Nyaya Sanhita (BNS).