The Reserve Bank has made it clear that the purchase of old notes or coins should not fall prey to fraudulent offers. In fact, they are demanding commission on transactions related to the purchase and sale of old notes and coins through different online and offline means.
RBI on sale of old notes and coins
These days, many types of news are going on on social media regarding the purchase and sale of old notes and coins. It is being told that if you have such a coin or note, then you can get lakhs of rupees. RBI has issued a release regarding such news, alerting customers to beware of them. The Reserve Bank has made it clear that the purchase of old notes or coins should not fall prey to fake offers of sale.
In fact, some elements are demanding fee or commission in the name of RBI from the general public in transactions related to the purchase and sale of old notes and coins through different online and offline means through fraud. RBI has made it clear not to fall in such a trap.
— RBI Says (@RBIsays) August 4, 2021
What did RBI say?
The Reserve Bank of India has made it clear that it is not involved in any deal like selling old notes or coins and takes any kind of commission or money. The central bank has told through a tweet that no member, employee or company or institution of RBI has been given authority for such transactions. The Reserve Bank of India advises the general public not to fall in the trap of such fake and fraudulent offers. Even before this, from time to time, RBI has been issuing alerts to the customers to avoid such frauds.
Reserve Bank of India stated that it has not authorized any institution/firm/individual etc. to collect fee/commission on its behalf in such transactions. The central bank has advised not to fall prey to elements using the name of Reserve Bank of India to launder money through such fraudulent offers.
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