RBI cautions against dubious deals on old notes

The Reserve Bank of India cautioned the public to not fall prey to fictitious offers of buying and selling of old banknotes and coins.

This advisory comes in the wake of RBI coming across certain elements fraudulently using its name and logo while seeking charges, commission or tax from public, in transactions related to buying and selling of old banknotes and coins through various online and offline platforms.

The central bank clarified that it does not deal in such matters and never seeks charges or commissions of any sort.

Further, RBI has also not authorised any institution, firm or person to collect charges and commission on its behalf in such transactions.

RBI, in a statement, advised members of public to remain cautious and not to fall prey to elements using its name to extract money through such fictitious and fraudulent offers.