RBI Warns People Against Online Buying & Selling Of Old Coins, Notes

New Delhi: The Reserve bank Of India (RBI) has issued a warning to those people who are engaged in selling or buying old banknotes and coins.

Taking to the micro-blogging site, the country's apex had earlier in this month said that some elements are wrongly using the name and logo of Reserve Bank of India and asking people to sell old banknotes and coins through various online, offline platforms.

''Fees/commissions or taxes are being demanded,'' it added.

Following this, the central bank warned that RBI does not deal in such matters and never asks for such fees or commission from anyone.

''The Reserve Bank advises the general public not to fall prey to such fraudulent and fraudulent offers,'' it said.

The bank further warned that it has not given any authority to any entity, company, or person, etc. to charge any fee or commission on behalf of the Reserve Bank on such transactions.

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