All coins are legal tender: RBI to people

The RBI has recently asked the public to continue accepting coins of various denominations pumped into circulation regularly. The RBI puts into circulation coins minted by the central government. RBI further said that in order to meet transaction needs, coins are being manufactured from time to time with distinctive features and various themes — economic, social and cultural.

“It is reported that there are doubts in some quarters, regarding the genuineness of such coins which has resulted in reluctance on the part of some traders, shop-keepers and members of public to accept coins. This has impeded the free use and circulation of coins in certain pockets of the country. The Reserve Bank appeals to members of the public not to give credence to such rumours and continue to accept these coins as legal tender in all their transactions without any hesitation,” it said in a release.