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Traders reject 10-rupee coins
Some establishments have declared Rs 10 coin as not a legal tender anymore in this EG district. They include provisional stores and petrol bunks. Some of the establishments displayed boards that they will not accept ten-rupee coins hereafter. With the unofficial ban, the circulation of ten rupees coin has come to a halt.
Pithapuram: Some establishments have declared Rs 10 coin as not a legal tender anymore in this EG district. They include provisional stores and petrol bunks. Some of the establishments displayed boards that they will not accept ten-rupee coins hereafter. With the unofficial ban, the circulation of ten rupees coin has come to a halt.
Even the RTC conductors are not accepting them. People who saved ten rupees coins in the kiddy banks are worried about what to do with them. Even though there is no official declaration that the coins are not legal tender anymore, no commercial establishment is accepting them. The banks have been issuing them as usual.
But no one is accepting them outside. All of a sudden, the coin appears to have stopped being legal tender. Even petty traders and vendors who sell goods visiting door to door are also not accepting them. The unofficial ban put the common man in a piquant situation.
The SBI branch manager, Sitaram, said the bank did not receive any orders from the above to this effect. As per the RBI rules, the coins are very much valid, he added. The banks have been giving them to customers and receiving from them. If anyone refuses to accept the coins, it would tantamount to committing a crime, he clarified
