Rs 20, Rs 10 notes disappear from circulation
Currency notes, particularly in the denomination of Rs 10 and Rs 20 are slowly disappearing from the market followed by Rs 50 notes
Vijayawada: Currency notes, particularly in the denomination of Rs 10 and Rs 20 are slowly disappearing from the market followed by Rs 50 notes. These currency notes which are available in the market at present are soiled, torn and may become pieces if they are not handled carefully.
It appears that it’s a strategic move by the Reserve Bank of India to bring back the currency notes stashed by some people or to bring 10 and 20 rupee coins back in circulation.
For mysterious reasons, of late, these coins went out of circulation after they were released into market. Many people refused to accept these coins particularly in Andhra region. However, these coins are in good circulation in the rest of the country.
Approach any commercial bank, one will get the stock reply that these currency notes are not available. Five rupee notes have already disappeared from the market and were replaced by five rupee coins.
Moreover, the bank officials advise people to take coins for daily use in the place of Rs 10 and 20 notes. Due to compulsion, people are slowly accepting these coins.
However, there is a logistics problem with these coins. Currency notes could be easily tucked in the purse or pocket. In case of coins, it will be difficult to keep them in pocket or purse. Moreover, if they are kept in the pocket one has to endure the jingle sound all along.
Moreover, it’s not possible to keep more number of coins in the purse. They are already occupied by the one, two and five rupee coins.
There could be one solution to the problem. People may carry small cotton pouches for the coins and tuck them to their waist.
Surprisingly, Rs 50 currency notes are also not available in the banks. People may wonder what is in store for them.
