Monday, May 13, 2013

'Collectors' rush to make hay as coins become rare in Bangalore

........."Sale of coins for a commission has become a business for a few RBI employees. They make arrangements to give as many as coins as possible to some people, who get extra money (commission) by supplying those coins to hoteliers and small businessmen. The RBI employees get half of the commission amount for helping them (the middlemen),'' said one of the owners of a hotel at Shivajinagar. It is said that for the coin-sellers, a few hours' wait in the queue means an earning of Rs 500-Rs 800. An RBI officer, however, denied the allegations and said that the central bank had made arrangements to provide one- and two-rupee coins to hoteliers and businessmen............

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