The Reserve Bank of India (RBI), along with the State Bank of India (SBI), started a campaign on October 3 and 4, 2024, to encourage people to use Rs.10 coins. The campaign was launched because many people, including traders and small businesses in Andhra Pradesh and Telangana, were hesitant to accept these coins due to false rumors about their authenticity.
As part of the campaign, each SBI branch contacted at least ten retail customers, small businesses, and beneficiaries of the PM Svanidhi scheme. They handed out pamphlets explaining that Rs.10 coins are valid and should be accepted. Also, during these two days, a portion of all cash withdrawals from SBI branches was given in Rs.10 coins.
The RBI reminded everyone that all Rs.10 coins, no matter their design, are legal tender. They stated that the coins are made by the Government of India, and different designs exist because coins last for a long time. The RBI also urged banks to accept Rs.10 coins for transactions and exchanges at all their branches.
To spread awareness, Rajesh Kumar, the Chief General Manager of SBI Hyderabad Circle, led the initiative by distributing Rs.10 coins to the public at the Hyderabad Main Branch in Koti. Additionally, SBI organized “Coin Melas” at all their branches in the Hyderabad Circle to distribute Rs.10 coins and help people understand their importance.
