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RBI, SBI launch public awareness campaign on acceptance of Rs 10 coins
In continuation of its various initiatives, the Reserve Bank of India (RBI), in coordination with the State Bank of India (SBI), launched a public...
In continuation of its various initiatives, the Reserve Bank of India (RBI), in coordination with the State Bank of India (SBI), launched a public awareness campaign on October 3 and 4, 2024, to promote the acceptance of Rs.10 coins. The campaign aims to address the reluctance among traders, small businesses, and the public in Andhra Pradesh and Telangana to accept Rs.10 coins due to false rumors about their authenticity.
As part of the campaign, each SBI branch approached at least ten retail customers, PM Svanidhi beneficiaries, and small businesses, including Kirana stores, to display awareness pamphlets affirming the legal validity of Rs.10 coins. Additionally, a portion of all cash withdrawals from the bank's branches during these two days was facilitated through Rs.10 coins. The RBI emphasized that it circulates coins minted by the Government of India, with various designs coexisting in the market due to the long lifespan of coins.
Regardless of their design, all Rs.10 coins are legal tender and must be accepted without hesitation. RBI reiterated to all banks to accept these coins for transactions and exchanges at all branches. On this occasion, Rajesh Kumar, Chief General Manager of SBI Hyderabad Circle, led the effort by distributing Rs.10 coins to the public at the Hyderabad Main Branch in Koti. Coin Melas were also organized across all SBI branches in the Hyderabad Circle to distribute Rs.10 coins and create awareness.
