Even before the famous demonetization in India which discontinued ₹500 & ₹1000 notes as legal tender, there’s another unofficial Demonetization of ₹10 Coin. Unofficial in the sense that there was no such official announcement by any govt authority regarding this, unlike the demonetization on Nov 8, last year. I’m writing this post as I think this issue should bring to your notice that some commercial establishments and shopkeepers are not accepting ₹10 coins. Some say they are not accepting the said coins and the reason behind is that their Bank also not accepting these coins.
Some even not accepting as they have a doubt over its originality. They are refusing to accept ₹ 10 coins without the rupee(₹) symbol though the RBI has cleared the rumors and said it is a legal tender and not fake. And Here the banks are not accepting it with no strong reasons. Some banks even say that it shouldn’t be deposited in the banks as it is for circulation in the market for making changes available.
Not only Banks, even post offices refusing to accept the said coins, this happened when my friend Farid Barbhuiya went to the Post office for purchasing IPO’s, and he paid the amount in Coins, but the clerk refused to accept the coin and asks for other denomination. When he asks the reason for that, they said nothing but told him to go to any shop and exchange the coins with notes. Then he offered them to accept half of the amount in coins and a half in notes, they refused it too. Then he asks them to give a reason in writing for not accepting the said coins. Eventually, they accepted with having no other way as the matter may go beyond control.
The incident happened to me also, a few days back in a small tea stall when I drink a cup of tea in Silchar near Mediland Hospital in Itkhola, that time I had a ₹10 coin and a ₹500 rupee note. But, the shopkeeper refused to accept the coin at any cost and said that nobody accepts these coins he already had few coins in his cash. As I had no other option he even said to pay the money later but refused to accept the ₹10 coin. The ₹10 coin is the highest denominated coin available and being circulated in India since 2005.