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The 10 Rupee coin

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Is the 10 rs coin fake or is it banned? No, The 10 rs bimetallic coin was issued by RBI in 2005. Since then it has been in circulation. It is used alongside a 10 rs note and it is the second highest denomination coin issued by the RBI. Then what led to these? It is said that in 2016 a rumor spread in Agra , Uttar Pradesh which then spread all over India.

The hoax was all about, anti-national people minting fake 10 rs coins to satisfy their interest. This rumor was also spread through Whatsapp and other social media sites, which eventually led to people not accepting the 10 rs coin. With response to these, RBI issued a statement in Nov 2016 stating the 10 rs coin as legal form of currency and can be used in all transactions.

Despite this, many people still refuse to accept the coin. Some people know the fact but they still don’t accept it because others dont take it from them. The worst part of the story is that even the bus conductors, bank employees, rly station counters and other government officials whose duty is to spread awareness also don’t accept it.

Currently there  are 6 denominations of coins issued by the apex bank. The fun fact is even 50 Paise coins are still in circulation and people have to accept it because the RBI never banned it.It also has a legal tender status.  Just because of its low value people started using it minimally, so they are very low in circulation. But when considering a big amount one can’t refuse to accept the 50 Paise Coin.

RBI issued statements frequently that all 14 different types of 10 rs coin issued by the RBI under the authority of Government Of India are legal tender and it promises to pay the value of currency to the bearer.

What’s for those who don’t accept it? According to RBI rules, those who refuse to accept the legal form of Indian currency can be liable for action under IPC section 124-A (sedition charges). So rather it be a shopkeeper or autowala or shopkeeper or normal citizen, those who refuse to accept the 10 rs coin are liable for punishment.

I believe that from time to time, the RBI has taken necessary steps to avoid the confusion among people regarding the 10 rs coin. From press releases to SMS Awareness Campaign and print media campaign. But that is not enough. People still live in a misconception. Sedition Charge also cannot be an option in my view. I think it’s time for the government to hunt for new options and should now take very strict disciplinary actions in order to eradicate the fake news.

Submitted By: Priyash. P.  Prabhudesai

Bio-Data: I am Priyash Prabhudesai, a student of KLE’S College Of BCA, Belagavi . I am a political enthusiast and I always like to write about political scenarios and social issues. My Earlier works have been published in The Navhind Times, The Herald and OpIndia.

Declaration:

I, Priyash Prabhudesai, certify that this piece of writing is my original work. 

Email ID : [email protected]

Address: H.No 18/B, Paingin, Canacona, Goa.

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