RBI big disclosure: Nowadays, various claims are being made on social media platforms regarding the sale of old notes and coins. In many posts and videos, it is said that if you have old notes or rare coins, then you can earn lakhs of rupees by selling them. People assume that this is an easy way of earning. But the reality is different, because the Reserve Bank of India (RBI) has clarified its position on this whole matter.
Does RBI really auction old notes?
According to media reports, the Reserve Bank of India says that it has nothing to do with the auction of old notes or coins. RBI has clarified that it does not participate in any such transaction and neither does it authorize any institution or website for this work. This means that those who claim to auction or sell in the name of the RBI are misleading people.
How do fraudsters trap people?
Many websites and social media pages in the market are trying to trap people by claiming themselves to be authorized platforms. They create such an atmosphere as if they have got permission from the RBI. As soon as a person contacts them, they start asking for money in the name of a fee, tax, or commission. Many people have lost their money by falling into this trap. This whole game is a well-planned fraud, where common citizens are made victims by showing greed.
RBI’s warning and appeal
The Reserve Bank of India has appealed to the people not to fall into such fraud. The bank has clarified that no institution, company, or person has been given the right to auction old notes and coins and charge a fee. If someone asks you for money in the name of the RBI, then be alert immediately. Such cases can be reported directly to the cyber cell or the police.
Why are such fake advertisements increasing?
Nowadays, advertisements are spreading rapidly both online and offline. It is claimed in newspapers, websites, and social media channels that you can become rich overnight by selling old notes or coins. Many times, pictures of rare notes are shown, and it is said that their value is in lakhs. People think that they also have such a treasure, but the reality is that these deals have nothing to do with the RBI.
How to stay safe?
If you have old notes or coins and want to sell them, then first read the official guidelines of the RBI. Do not trust any unknown website or agent. Remember, the Reserve Bank only makes rules related to the exchange or circulation of currency, and does not auction or sell it. Only the right information can save you from these fraudsters.