Don’t fall prey to fraudsters, RBI cautions public

The premier bank advises people to stay away from elements using its name to extract money through such fradulent means.

Updated - August 04, 2021 12:58 pm IST

Published - August 04, 2021 12:56 pm IST - MUMBAI

Representational image.

Representational image.

The Reserve Bank of India (RBI) has cautioned members of the general public not to fall prey to fictitious offers of buying/selling of old banknotes and coins.

“It has come to the notice of RBI that certain elements are fraudulently using the name/ logo of RBI and seeking charges/ commission/ tax from public, in transactions related to buying and selling of old banknotes and coins through various online/ offline platforms,” the RBI in a press release.

“It is clarified that RBI does not deal in such matters and never seeks charges/ commissions of any sort. RBI has also not authorised any institution/ firm/ person to collect charges/ commission on its behalf in such transactions,” the regulator said.

It has advised people to stay away from elements using its name to extract money through such fictitious/fraudulent offers.

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