Coin Shortage in India

Discussion in 'Economy & Infrastructure' started by Waffen SS, Mar 14, 2014.

  1. Waffen SS

    Waffen SS New Member

    Apr 28, 2013
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    Third Reich
    Now-a-days we are facing massive coin shortage, as a result we daily need to quarrel each other because every one wants to have coin, but no one has it. So what step should be taken to counter this problem?

    I think Indian coins are made of very high quality steel so they are smuggled to Bangladesh where Bangladeshis are using that steel to make blade, knife etc. And due to inflation Indian currency's value is decreasing so value of coins are no longer so much as it was.

    I think to counter this problem we need to stop coin smuggling to Bangladesh and Indian Government should issue currency notes for Rs 1, Rs 2, Rs 50 paisa.

    @Ray, @Singh

    Recent coin shortages in India - reasons and consequences

    RBI says coin shortage ‘artificial’ | The Indian Express
    Last edited by a moderator: May 10, 2015
    Vishwarupa and Singh like this.
  3. Ray

    Ray The Chairman Defence Professionals Moderator

    Apr 17, 2009
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    I read somewhere that melting down of coins is more lucrative than the value of the coin.

    Hence there is a cottage industry doing just that leading to the shortage!

    I also read that they are thinking of plastic money so that they do not get soiled and worn out!
    Waffen SS likes this.

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