Coin shortage big problem

Gaspeli

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posted on 54 years ago — updated on 1 second ago

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Follow us:WhatsappFacebookTwitterTelegram.cls-1{fill:#4d4d4d;}.cls-2{fill:#fff;}Google NewsShopkeepers offering customers a toffee or a matchbox in lieu of change is common these days. It seems as if coins of Rs 1, Rs 2, and Rs 5 have suddenly disappeared from the market.The situation has come to such a pass that customers here are handed over a piece of paper with the amount pending written on it which is credited when the customer visits the shop next time.On the other hand, there are traders and black marketeers who cash in on the shortage. They have a network and a chain established. Hiding under the banner of acceptors of torn and old currency notes and coins, they have their daily paid people who go from one roadside vendor and pan shop to another who deal in small change and collect coins. It has become a lucrative business for them.There are even beggars who sell coins at 10 per cent premium. “Against Rs 100, they offer you coins for Rs 90 and the rest is their profit,” said a businessman. Although banks offer coins at frequent intervals, sources alleged, there are a group of traders who hoard them.first published:January 01, 1970, 05:30 ISTlast updated:January 01, 1970, 05:30 IST
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Shopkeepers offering customers a toffee or a matchbox in lieu of change is common these days. It seems as if coins of Rs 1, Rs 2, and Rs 5 have suddenly disappeared from the market.

The situation has come to such a pass that customers here are handed over a piece of paper with the amount pending written on it which is credited when the customer visits the shop next time.

On the other hand, there are traders and black marketeers who cash in on the shortage. They have a network and a chain established. Hiding under the banner of acceptors of torn and old currency notes and coins, they have their daily paid people who go from one roadside vendor and pan shop to another who deal in small change and collect coins. It has become a lucrative business for them.

There are even beggars who sell coins at 10 per cent premium. “Against Rs 100, they offer you coins for Rs 90 and the rest is their profit,” said a businessman. Although banks offer coins at frequent intervals, sources alleged, there are a group of traders who hoard them.