Friday, December 13, 2013

The other side of the coin..........



There are fifty paise, one, two and five rupee ‘the same-look and size’ coins confusing general public (the Governor, RBI; the Secretary, GOI and their deputies not excluding) in their daily dealings/transactions. RBI has ‘withdrawn’ (now, not legal tenders) over a period of time Annas of different denominations as also one, five, ten, twenty, twenty five …paise coins. RBI and GOI may consider ‘withdrawing’ the same size -similar look coins in a year or two/three by due notification. These ‘withdrawn’ coins may be melted at the Mints and replaced with new coins of different size and pattern after proper dialogue and deliberation. 

- R.G.Nakhate, Mumbai,

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