Is 10 Rupees coin banned in Pakistan?

As per instructions of State Bank of Pakistan (SBP) the old design banknotes of Rs. 10, 50, 100 and 1000 will cease to be legal tender with effect from December 01, 2016.

Why is 10 RS coin not accepted?

It was later clarified by the Reserve Bank of India (RBI) that the “alleged fake” coin was the earlier 2008 design, which predated the adoption of the ‘₹’ symbol in 2010, and was still in legal circulation, along with the 2011 design and those refusing to accept it could face legal action.

Can RBI print money?

“It (RBI) can (print money) but, it should avoid doing so unless there is absolutely no alternative. For sure, there are times when monetisation despite its costs – becomes inevitable such as when the government cannot finance its deficit at reasonable rates,” Subbarao said.

Is 10 rupee coin valid in Karnataka?

In spite of issuing clarifications by Reserve Bank of India and Government Ministers, in unambiguous words, a ten rupee coin is not accepted in Bengaluru and some other parts of Karnataka. Similar was the case with currency note of Rs 20 denomination. …

Are 10 rupees coins banned in India?

No! ₹10 coin is still acting as a legal tender in the country. 10 rupees coins are not banned in India. It is just a rumor. But as lot of fake coins are in circulation, many shopkeepers try to avoid these coins by saying that they are banned.

Is RBI banning Rs 10 coins?

However, the RBI made it clear that the coin was very much in circulation in the market and the persons refusing to accept it could face legal action. It has come to the notice of RBI that some people have spread rumours about a ban on Rs 10 coins, which is completely baseless.

Are Rs 10 coins legal in Bengaluru?

In January, the Reserve Bank of India repeated yet again that Rs 10 coins are legal, but many trades and services in Bengaluru continue to turn them down. All 14 types of the Rs 10 coin issued so far are legal, the RBI has confirmed.

Is Rs 10 coin legal in metrolife?

All 14 types of the Rs 10 coin issued so far are legal, the RBI has confirmed. Metrolife did a reality check on Friday, visiting government-run and private organisations to check how widely the coin was accepted.