Rejection of ₹10 Coin Constitutes Legal Offense, RBI Warns

In recent years, confusion has surrounded the validity of the ₹10 coin, with some traders and businesses refusing to accept it. Reports suggested that the Reserve Bank of India (RBI) had banned the coin’s use, leading to widespread misinformation.Contrary to these claims, the RBI has clarified that the ₹10 coin remains legal tender. The central bank has issued stern warnings to businesses, emphasizing that refusing to accept these coins is a legal offense. The RBI has previously addressed this issue through press releases in 2016 and 2018, reiterating that the ₹10 coin is valid and should be accepted in transactions.Despite these directives, many traders continue to reject ₹10 coins, often due to misconceptions. The RBI has now reiterated that ₹10 coins are valid for a longer duration compared to ₹10 notes, which are more susceptible to wear and tear. The introduction of the ₹10 coin was intended to address this issue and provide a more durable alternative.The RBI is also continuing to print ₹10 coins to meet demand, but reports indicate that banks are increasingly burdened with accepting and depositing these coins alongside worn notes. The RBI’s latest warnings aim to address these issues and ensure that ₹10 coins are properly utilized in everyday transactions.