Mumbai, Aug 4 (PTI) The Reserve Bank on Wednesday cautioned the public not to fall prey to fictitious offers of buying or selling of old banknotes and coins on commission basis by unauthorised entities.

In a statement, the RBI said it has come to its notice that certain elements are fraudulently using the name/logo of the Reserve Bank of India and seeking charges/ commission/ tax from public for transactions related to buying and selling of old banknotes and coins through various online/ offline platforms.

Also Read | Honor X20 5G Teased on Weibo, To Be Launched on August 12, 2021.

"It is clarified that Reserve Bank of India does not deal in such matters and never seeks charges/ commissions of any sort. Reserve Bank of India has also not authorised any institution/ firm/ person etc to collect charges/ commission on its behalf in such transactions," it said.

RBI advised the public to remain cautious and not to fall prey to elements using its name to extract money through such fraudulent offers.

Also Read | Kishore Kumar 92nd Birth Anniversary: Ayushmann Khurrana Pays Musical Tribute to His Idol and ‘Immortal Artiste’ Kishore Da (Watch Video).

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)