Ban on Rs 10 coins are rumours and completely baseless: RBI

People queued up outside the Reserve Bank of India office in Bhubaneswar to exchange 10 rupee coins after some banks and fuel stations refused to accept them. Panic gripped the city amid rumours about a similar ban on 10 rupee coins.

Kanchan Biswal, a physically disabled woman, reached the RBI office with great difficulty just to know the truth. She had come with a bagful of coins to show the RBI officials how banks and other shops had refused to accept those. It was only after the officials convinced her that it was nothing but a hoax that she returned home assured that her coins would not go to waste.

A group of youths also visited the RBI to apprise the officials about their problem. Pleading helplessness, they said youngsters away from home were particularly inconvenienced while exchanging the coins. They added that many of them were forced to go without food for days on end as no one would accept either the coins or currencies of higher denominations.

On being contacted, the RBI officials said some people have spread rumours about a ban on Rs 10 coins. “These rumours are completely baseless. The Centre deals with the coin. So it will come out with a notice to sensitize people about the misleading information circulated by some mischief-mongers,” said an RBI official.

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