EDITORIAL

Letters to The EDITOR

Reserve Bank of India

 

Candies can’t substitute coins

Presently with Reserve Bank of India RBI and government-mints facing a unique problem of storage of coins and mints at times working in just one shift rather than usual three, still many vendors are continuing with the faulty practice of giving candies, chocolates and other such unwanted items in place of balance coins. Many retailers have made it a practice to give candies and chocolates in place of coins even though they have sufficient coins in their cash-boxes. It is a noble way to earn extra profit through such forced sale of unwanted items devised in the days when coins were in scarcity.

The Central Government should take steps to stop such anti-consumer tactics by making provision to impose fine on traders who give candies, chocolates and other unwanted items in place of balance coins to consumers. RBI should direct all private and public sector banks to ensure sufficient coin-bags of each denomination, especially of rupees one and five at all their branches so that these may be available on demand to any one irrespective of being customer of the bank.

Production of coins of rupees two should be stopped by increasing production of one-rupee coins because it is quite often that one-rupee coin is not given back as balance of two-rupee coin because of one-rupee coin-bags not usually available. Coins should only be in denominations of rupees one and five.

Subhash Chandra Agrawal,
775 Kucha Lattushah,
Dariba, Chandni Chowk,
DELHI.