Procurement News Notice |
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| PNN | 3091 |
| Work Detail | Residents of the city have been a hassled lot for the past few days when it came to accepting Rs 10 coins. Recent rumours of two different designs of the coin flooding markets have led many to refuse them. The confusion, which has been fuelled by the social media, has made many people in markets and business establishments reject the humble denomination. Bank officials, however, said the reports were false and that the Reserve Bank of India (RBI) had not issued any guidelines about banning the coin. This incident is reminiscent of a rumour circulated through WhatsApp in Agra this year that led to a virtual halt in transactions of Rs 10 coins in the city. Even as some have discarded rumours of anomaly in the coin's design, most remained sceptical and were seen rejecting it out rightly. Locals said many shopkeepers in areas such as Kaka Tola, Jasoli, Quila and Shamatganj have been the most cynical about the coin. One shopkeeper Mohammed Javed Idrsi explained, "The coins minted around 2010 have around 15 rays circling the space where 'Rs 10' is mentioned. But those made in 2016 have only 10 rays. Similarly, there is another minor difference in that the new ones have the symbol of rupee while the older ones have the word rupee etched on it." He also admitted that he has been carrying nearly 200 coins in his pocket but no one, including fellow shopkeepers, medical store owners or rickshaw pullers, were willing to accept them. Raman Katheria, a resident of Quila, said, "A grocery store near my house declined to accept the coin as he had read a message on WhatsApp few days back that RBI has banned it. When we failed to convince him, we had to finally hand over an Rs 10 note." Meanwhile, Ghan Shyam Singh, assistant general manager (AGM) of Bank of Baroda here, "We have heard about these rumours. But these are false. RBI has not issued any guidelines regarding a ban on Rs 10 coins. Usual transactions of the coin are taking place in our bank." He also added that no written complaint has been received from consumers about people refusing to accept the coins and also reiterated that no person can deny it." |
| Country | India , Southern Asia |
| Industry | Financial Services |
| Entry Date | 03 Sep 2016 |
| Source | http://timesofindia.indiatimes.com/city/bareilly/Bareilly-residents-refuse-to-accept-Rs-10-coins-over-ban-rumours/articleshow/53878803.cms |
