Last Updated:
Recently, there has been a lot of confusion among the common people regarding coins with different designs. In many places the debate about accepting old and new coins has started increasing. Clearing this confusion, RBI has clearly said that coins of all denominations from Rs 1 to Rs 20 are completely valid and in circulation.
New Delhi. In recent times, confusion has increased among the common people regarding coins with different designs. At many places, there have been incidents of debate between traders and customers regarding accepting old and new designed coins. Many misleading messages are also being spread on social media, claiming that some types of coins are no longer valid. However, the Reserve Bank of India (RBI) has clearly said that there is no need to worry about coins of any value. All coins, regardless of design, are legal tender and should be accepted throughout the country.
All coins from ₹1 to ₹20 will remain fully valid and in circulation.
RBI has reiterated that all coins of 50 paise, Rs 1, Rs 2, Rs 5, Rs 10 and Rs 20—irrespective of their design—are fully legal tender. These will be kept in circulation for a long time. The central bank said that from time to time the designs of coins are changed to improve security and quality. Due to which many models of coins of the same value are present in the market. But this does not affect their value. According to the bank, rejecting any coin on the grounds that its design is different is against the rules and creates unnecessary confusion.
Appeal to be cautious of rumors on social media
RBI has also said that spreading rumors about coins or believing in them without checking can land people in trouble. Many times, it is claimed through WhatsApp forward that coins with some old designs are being rejected or have gone out of circulation, whereas this is completely wrong. The Reserve Bank has assured the citizens that in case any coin is declared illegal, it will itself issue an official notice. Therefore, people are appealed not to pay attention to such misinformation and continue to transact coins normally.
RBI’s message ‘Be informed, stay alert’
RBI says that coins are widely and continuously used in the country, hence their circulation continues for a long time. Despite different designs, all coins have equal value and are fully valid in transactions. The central bank has requested the public and traders to accept the coins without any doubt, so that unnecessary controversy and confusion is not created. The institute has clearly said in its public message that ‘Be informed, be alert, and accept the coins without hesitation.’
