BEWARE! Selling old coin or note? First READ THIS important information by RBI

New Delhi:

If you are planning to sell or buy old coins and notes, you should read this first. The RBI has issued critical information in this regard.

The buying and selling of old coins and notes has recently become more popular. There are numerous online and offline platforms where old notes and coins can be purchased. However, the RBI has provided the necessary information. 

According to the RBI, some fraudulent elements are selling old notes and coins on online and offline platforms using the central bank’s name and logo.

What did the RBI say?

“It has come to the attention of the Reserve Bank of India that some elements are incorrectly using the name and logo of The Reserve Bank of India,” the Reserve Bank said in a tweet on its official Twitter handle. And polling various online and offline sources. People are requesting a fee, commission, or tax in exchange for selling old banknotes and coins through the platform.

The Reserve Bank stated that it is not involved in such activities and will never charge a fee or commission for such transactions. At the same time, the bank has stated that it has not granted any kind of right to any institution or individual for such activities.

RBI has no agreements with anyone

The RBI does not deal in such matters and has never requested such a fee or commission from anyone. The bank stated, “The Reserve Bank of India has not granted any right to any institution, company, or person, etc. to charge any fee or commission on such transaction on behalf of the Reserve Bank. The Reserve Bank of India warns the public not to fall for such bogus offers.”


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