What old coins are still legal tender?Some years ago, when I served for a short time at Ranchi, I was stumped when I found traders in the vegetable market happily accept twenty paise and even ten paise coins from customers. This was a routine. Some years later, our great Finance Minister, Mr Chidambaram, officially banned the twenty five paise.
Still, the twenty paise and even ten paise can be rarely found in villages. Even the fifty paise, though officially not banned, is still accepted in some quarters. This is of course, very rare to find. The Times of India, is sometimes priced at Rs.2.50 and when you ask for balance, you will be given a small toffee, very grudgingly.
What is the legal position? Are the twenty paise and the ten paise coins and even fifty paise, coins, legal tender today?