Whether it’s rickshaw pullers or vegetable vendors, many people return 1 and 2 rupee coins—even 50 paise coins—saying they’re no longer valid. If you’ve found yourself in this situation, the Reserve Bank of India has issued a new update regarding small denomination coins.
RBI categorically dismissed the confusion spread in the market.
The central bank has clearly stated that any false information or baseless claims being spread about coins should be completely ignored.
- 50 paise,
- 1 rupee,
- 2 rupees,
- 5 rupees,
- 10 rupees,
- Or why not a 20 rupee coin… all are valid and fully in circulation.
Different designs = no problem
Many people think that if coins of the same denomination have different designs, the old designs may no longer be valid.
The RBI has also put an end to this confusion.
According to the bank, it is normal for coins of the same denomination to have multiple designs, and all of these designs remain valid. So, don’t be confused by any coin.
What to do if the shopkeeper does not accept coins?
If a merchant refuses to accept coins and you’ve quickly found yourself stocked up with coins, don’t worry.
You can deposit them at your nearest bank—
- Can deposited,
- Or you can get cash notes in exchange for these.
The message from RBI is clear
As Indian currency, every coin has the same value and validity, even if its size is changed, design is different, or its shine is dull.