There is big business in ‘small change’

.............“We have to buy coins. Otherwise our business will be affected. Coins in the denominations of Re.1, Rs.2 and Rs.5 are hard to come by, the reason why we rely on commission agents,” says R. Karunanidhi, manager of a restaurant. Every morning, he makes a trip to Yanaikkal where coin traders assemble. For coins worth Rs.100, the commission is Rs.10. For people like N. Peer Mohamed who sells coffee near the district court complex, it is a struggle to tender exact ‘change’ to customers, particularly during the peak hours in the mornings and evenings. “These days, everybody comes with a currency note. Since banks don’t give coins, I find it tough to meet the demand for one and two rupee coins. Many times I tell the customers to round off their bill for want of coins,” he says........

Read - The Hindu