Tuesday, September 21, 2021

RBI cautions against offers of buying or selling old notes

MUMBAI: The Reserve Financial institution of India (RBI) has cautioned the general public from falling prey to affords of shopping for or promoting of previous financial institution notes and cash.
In an announcement, the central financial institution mentioned that sure components are fraudulently utilizing the identify and brand of the Reserve Financial institution of India, and in search of prices, fee and tax from public, in transactions associated to purchasing and promoting of previous banknotes and cash by means of varied on-line and offline platforms.
“It’s clarified that Reserve Financial institution of India doesn’t deal in such issues and by no means seeks prices/commissions of any kind. The Reserve Financial institution of India has additionally not authorised any establishment/agency/particular person and many others to gather prices/fee on its behalf in such transactions,” it mentioned.
The RBI has suggested members of public to stay cautious and to not fall prey to components utilizing its identify to extract cash by means of such fictitious and fraudulent affords.

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