rs 5 note

Jagran reports that shopkeepers in Indore have stopped accepting ₹5 denomination currency. And they are not explaining any strong or particular reason for the denial to accept ₹5 notes.

The problem is faced in the areas of Rajwada, Ada Bazar and the general stores in the streets. Apart from that some petrol pumps and retails shops also refused to accept the currency.

As per RBI, the denomination is still valid and the circulation is on. If anyone refuses to accept the denomination, a FIR could be lodged against him.

Manohar Desai, a Sudama Nagar resident from Indore says that he had to face problems in the market for last 10 days. The shopkeepers are giving an excuse that no one is accepting ₹5 notes from them and hence they could too can’t accept.

The wholesale market has a demand for coins. Sanchar Nagar resident Santosh Mishra says that a few days before the petrol pumps have also refused to accept the notes. He then had to give ₹5 coins.

RBI says that no information or circular has been issued for the ban of ₹5 notes. If any bank refuses to accept the notes, a complaint can be lodged with RBI while if any individual refuses to accept notes, actions could be taken under IPC.

Mukesh Bhat, Lead Bank Manager says, “The note has not been banned. ₹5 notes are available in the market and the banks in abundant. No one has yet filed any such complaint with the banks.”

A year before, some shopkeepers refused to accept ₹10 coins. The reason was a video went viral on social media which informed people about ₹10 coins being duplicated. The society faced a lot of problems after that video.