RBI warns against offers of buying or selling old banknotes and coins

Mumbai: The Reserve Bank of India (RBI) has cautioned the public from falling prey to offers of buying or selling old banknotes and coins.

In a statement, the central bank said that certain elements are fraudulently using the name and logo of the Reserve Bank of India, and seeking charges, commission, and tax from the public, in transactions related to buying and selling of old banknotes and coins through various online and offline platforms.

“It is clarified that Reserve Bank of India does not deal in such matters and never seeks charges/commissions of any sort. The Reserve Bank of India has also not authorised any institution/firm/person etc to collect charges/commission on its behalf in such transactions,” it said.

The RBI has advised members of the public to remain cautious and not to fall prey to elements using its name to extract money through such fictitious and fraudulent offers.

(IANS)