Quick Summary
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 public, in transactions related to buying and selling of old banknotes and coins through various online/ offline platforms. It is 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
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FAQ :
The RBI is warning the public about fraudulent offers related to buying and selling old banknotes and coins, where scammers are using the RBI's name to demand money.
No, the RBI has clarified that it does not deal in such matters and has not authorised any institution, firm, or person to conduct these transactions on its behalf.
The RBI explicitly states that it never seeks or charges any commissions or fees of any sort for transactions involving old banknotes and coins.
The public is advised to remain cautious and not fall prey to these fictitious offers. Do not pay any charges or commissions to individuals or entities claiming to represent the RBI for these transactions.
This warning is being issued by the Reserve Bank of India, as stated by Yogesh Dayal, Chief General Manager.
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