Monday, April 22, 2013

Low denomination currency notes to become history

.....Along with the currency notes of Rs 1 and Rs 2, the Rs 10 note will also be a part of history. The Union Minister of State for Finance, Namo Narain Meena, it is to be recalled, made a statement in the Lok Sabha that considering the short duration and high cost involved in the printing of Rs 10 note, Reserve Bank of India is planning to gradually phase it out. It will be replaced by the coin worth its value. Though the cost of printing a Rs 10 coin comes around Rs 6, it has long duration of circulation as it can sustain the wear and tear of time................

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