The district is experiencing an unusual crisis as no one is ready to accept coins of any denomination these days. Neither the vendors, nor are the banks, not even the customers.
Although the coins of these denominations, including 25 paise, 50 paise, Rs 1, Rs 2, Rs 5 and Rs 10 coins are legal tenders, yet the non-acceptance of these coins has led to harassment of the common people. While 25 paise coin is virtually out of market, currently the non acceptance is largely witnessed in case of Rs 10 coin.
The small time traders, mainly the vegetable vendors, panwalas and newspaper hawkers etc. do daily transactions with only small coins and these people are facing the heat.
It is also seen vendors or buyers preferring to make their transactions to the nearest round figure instead of either giving or taking the change coins.
The petrol pump outlets have almost said no to the coins. However, each and every one argues that since banks have refused to accept the coins, they were not accepting them.
A small time vegetable vendor of Motiganj, Dhirendra Mohanty, observed, “What would I do with these coins as no one is accepting them. I have plenty of them and am experiencing a great difficulty in disposing them of.”
Soon after the demonetisation, while Rs 10 coin was not accepted following rumours, counterfeit coins came in for circulation. However, the situation was normal in two months. But the present crisis has cropped up with least intervention by the Government as yet.
The banks say the coins still have legal mandates but they cannot accept them in huge numbers as they have enough of them.
“The market intake for coins is very low. There is no demand of coins now although they are legally valid. We procure them to dispense in market. Since people are not willing to accept them, we are hard-pressed,” said a manager of a bank.