Your question: Why 10 rupee coin is not accepted?

Why is 10 RS coin not accepted?

“Rs 10 coin is Legal Tender issued by the RBI and failure to receive and accept the same is an Offence punishable under Law. … Don’t know why the traders are not accepting the coins. In case people face any issue regarding the same, they can lodge their complaints against commercial establishments at any police station.”

Can I deposit 10 RS coin in bank?

Banks are reportedly turning away customers who want to deposit money in Rs 10 coins despite the RBI’s clear instructions to accept them as the coins are legal tender. “If a bank refuses Rs 10 coins, customers can lodge a complaint with the RBI,“ a RBI official said.

Is coins banned in India?

On 30 June 2011, all coins in denominations of 25 paisa and below were officially demonetised. Commemorative coins in circulation can be found in various denominations.

What if bank does not accept coins?

Despite the Reserve Bank of India (RBI) issuing advisories and even threatening penal action if banks did not accept coins for public distribution, the Finance Ministry has reviewed complaints that many banks as well as several states have persisted with such “non acceptance”.

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How can you tell a fake 10 rupee coin?

Approach the bank with the coins instead of verifying with someone or spreading rumors. Banks will confiscate and issue a certificate. The currency would be sent to the RBI and if it is judged as a fake, a police investigation could be started. If not, it will be replaced.

How can I tell if my 10 RS coin is real?

India and Bharat are imprinted on both sides of the original 10 rupee coin. The fake coin has India and Bharat written side by side.

Are 10 RS coin banned in India?

The present ₹10 coin in circulation is from the 2019 design. … However, the previous ₹10 coins minted before 2019 are also legal tender in India. All ₹10 coins containing with and without the rupee currency sign are legal tender, as stated by the Reserve Bank of India.

Which bank will take coins?

Currently there are a few banks that we know of that will take your coins: Citibank (requires coin rolls and some fees may vary) Community Savings Banks (requirements vary) US Bank (no rolls but current customers only)

What is the maximum limit to accept payment in coins?

Coin of any denomination not lower than one rupee shall be legal tender for any sum not exceeding one thousand rupees. Fifty paise (half rupee) coin shall be legal tender for any sum not exceeding ten rupees.

How many coins is 1 kg?

Answer: the weith of one coin was 4.85 and 1 kg is equal to 1000 gm . so there we must that use the weith of 206 coins is 999.

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What to do if I have a lot of coins?

To wrap up, here are six ways you can turn change into cash:

  1. Take Your Coins to the Bank.
  2. Roll Them Yourself.
  3. Use a Coin Counting Machine.
  4. Hire Someone to Roll Them.
  5. Buy a Coin Separator.
  6. Buy Stuff with Them.

How many coins can be deposited in bank per day?

RBI issued a circular in July, limiting per-day deposits of coins not lower than Rs 1 denomination to Rs 1,000, and Rs 10 for 50p coins. Earlier, banks would accept 10 per cent of total deposits in the form of coin. After the note ban, a spike in the number of coins in circulation has led to their oversupply.

Can I give coins to my bank?

Consumers can turn in their coins for cash at banks, which will give them their full value. Banks do not charge a fee to their customers when they deposit coins, but many require that the coins be rolled in wrappers. Some banks like Wells Fargo will exchange rolled coins for noncustomers without a fee.

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