RBI cautions public of fictitious offers of buying/selling Old Bank notes/Coins

RBI cautions the public not to fall prey to fictitious offers of buying/ selling of Old Banknotes and Coins

According to the RBI press release, the Apex Bank has come to know that certain elements are fraudulently using the name/ logo of Reserve Bank of India, and seeking charges/ commission/ tax from public, in transactions related to buying and selling of old banknotes and coins through various online/ offline platforms.

RBI has clarified that Reserve Bank of India does not deal in such matters and never seeks charges/ commissions of any sort. Reserve Bank of India has also not authorised any institution/ firm/ person etc. to collect charges/ commission on its behalf in such transactions.

Reserve Bank of India has advised members of public to remain cautious and not to fall prey to elements using the name of Reserve Bank of India to extract money through such fictitious/ fraudulent offers.

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