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RBI cautions Public


Reserve Bank of India has cautioned the public not to fall prey to fictitious offers of buying/ selling of Old Banknotes and Coins.

In a press release issued today RBI has said, "It has come to the notice of Reserve Bank of India that certain elements are fraudulently using the name/ logo of Reserve Bank of India, and seeking charges/ commission/ tax from the public, in transactions related to buying and selling of old banknotes and coins through various online/ offline platforms."

"It is clarified that the 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 advises members of the 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."