Despite RBI order, banks refuse to accept 10 re coins

Puthiya Thalaimurai reports saying that despite an order from the Reserve Bank of India saying that 10 rupee coins are valid, several banks have been refusing to accept the same, essentially causing distress to customers.

The ordeal came to fore when an engineer Surendran belonging to Salem approached the Union Bank of India to remit Rs 8,200 to his savings account. To his shock, he found that while the cashier was ready to take Rs 8,000 remitted in notes, he said no to the remaining Rs 200, which was submitted by way of Rs 10 coins. 

Surendran later claimed that the manager agreed to take the coins after an ordeal of arguing for about an hour. Surendran later approached another bank and found that it was a similar story elsewhere too post which he registered a complaint with Salem district collector Rohini.

Rohini assured him saying that banks would be stressed upon to accept Rs 10 coins. With even banks refusing to accept Rs 10 coins, the pertinent question of shopkeepers accepting the same arises.

(Representative image)