While the rest of the nation is fretting over the 2000 rupee note, our dear Belagavi has its own little quirk to boast about – the utter refusal to accept a measly 10 rupee coin. Yes, you heard that right. In this city, a vegetable vendor might just be willing to take a 2000 rupee note, but heaven forbid you try to pay with a 10 rupee coin. It’s simply too bizarre for words.
Well, well, well, it seems like the Reserve Bank of India has been issuing clarifications left and right, but it looks like the good people of Belagavi just can’t seem to wrap their heads around the fact that a ten-rupee coin is, in fact, a legitimate form of currency.
Business establishments, small traders, and even public transport services are all turning their noses up at the ten-rupee coin, despite the RBI’s best efforts to clear the air. And why, you may ask? Well, apparently there are rumors of fake coins floating around. Because, you know, it’s not like the RBI has measures in place to prevent counterfeit currency or anything.
Meanwhile, in the bustling metropolis of Bengaluru, most hotels and other establishments have no problem accepting the ten-rupee coin, along with its fancy cousin, the twenty-rupee coin. But no, not in Belagavi. They’re too good for that.
The traders are in for a treat! Not only are they dealing with the usual headaches of the market and slow business, but now they can add the absence of ₹ 10 currency notes to their list of woes. How delightful!
One poor trader went to six different banks today, only to be met with the same disappointing response: “Sorry, we have no stock of ₹ 10 currency notes.” Oh, the horror!
But wait, there’s more! The banks do have ₹ 10 coins available, but the traders are too scared to touch them. Apparently, none of their customers are accepting them either.
Of course, the traders have no choice but to start using the coins as a change.
The Reserve Bank of India (RBI) has reiterated the legal tender status of ₹ 10 coins of different designs. They have noticed that in certain areas, traders and members of the public are hesitant to accept these coins due to concerns about their authenticity.
They have clarified that the coins we put into circulation are minted by mints under the Government of India. These coins have unique features that reflect various themes of economic, social, and cultural values, and are introduced periodically.
As coins have a longer lifespan, coins of different designs and shapes circulate in the market simultaneously. To date, the Reserve Bank has issued ₹ 10 coins in 14 designs, and the public has been informed of their distinctive features through press releases (list appended). All of these coins are legal tender and can be accepted for transactions.
In the past, the Reserve Bank has issued a press release (November 20, 2016) requesting members of the public to continue accepting coins of ₹ 10 denomination as legal tender in all their transactions without hesitation.
Furthermore, they have advised banks to accept coins for transactions and exchanges at all their branches.
As a requirement, all traders are obligated to accept 10 rupee coins.