Replacement of low denomination bills by Coins- -- Do you support?
February 11, 2007 11:49pm CST
The real question is why do low denomination currency notes lose their value gradually? Price rises eat into the value of notes. The Governments though claim they controlled inflation, are really bothered and are incapable of regulating price increases. Even in the so called free market economies, the Govt. make vain boasts. Tired of printing low value notes, they make continual efforts to replace them by coins. Except for use in slot machines, and pneumismatic collection items, coins have outlasted their utility owing to the advent of cards of various hues. Then why thrust the coins on people? In India, there is a shortage of 0.50 Rupee coins. Shop keepers palm off cheap toffees in lieu of the small change. In buses, conductors often do not give small change to commutors and develop a habit of pocketing them. After all small drops make an ocean, they believe in the proverb.