The Reserve Bank of India (RBI) has cautioned the citizens against any fraudulent offers to buy or sell old banknotes including coins. Citing ongoing fraudulent activities, the central bank said took stock of the situation that certain elements are fraudulently using the name/ logo of RBI.
They are doing so with an aim of seeking charges/ commission/ tax from the public, in transactions pertaining to buying and selling old banknotes and coins. And this could be 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.”
The RBI has not authorised any institution/ firm/ person to collect charges/ commission on its behalf in such transactions evidently.
Therefore, citizens have to be cautious and alert. They should not fall prey to elements using the name of the Reserve Bank of India to extract money through such fictitious/ fraudulent offers.
ALSO READ: Fresh RBI Rules On ATM Transaction Fees And Others Come Into Effect From Aug 1