No takers for Rs. 10 coin in South Goa

Margao: The Rs 10 coin has fallen victim to rumour mongering over the validity of the tender at least in South Goa as the shopkeepers, vendors, so also bus conductors flatly refuse to accept it saying “If I take it, no one would accept it from me.’’

“This refusal, based on rumours, is however against the RBI rules. No one can refuse it (to accept). I wonder why this is only seen in Goa where we have high rate of literacy. I have worked in other state branches, people in Maharashtra, Karnataka easily exchange the Rs 10 coins,’’ said the branch manager of Central Bank of India, Raia branch, Ramanand Pai.

‘The Navhind Times’ in its random survey found that there are hardly any Rs 10 coins in circulation in the markets of major towns. When this reporter tried to trade with five coins of Rs 10 denomination in Gandhi market, a vegetable vendor flatly refused to accept them saying “he coins cholnai, baba dusre dhi. (These Rs 10 coins are not accepted, please give me a note). She literally took back the vegetables from the reporter, but never accepted the Rs 10 coins.

The reporter then tried to make some purchase at a kiosk with Rs 10 coins, but there also the kiosk owner refused to accept the coins replying politely that “If I take them, people will not accept them from me. I have lot of such coins at home.”

At several other grocery stores in Margao town, the reporter met with a same kind of reply.

The banks from the town disclosed that people do not accept the Rs 10 coins at cash counter.

“Account holders at our branch show reluctance to accept Rs 10 coins. We do not know why, but this is purely against the RBI rules,” stated S Naik, a cashier from a town bank, who did not want to be named.

Unofficially, another bank official informed ‘The Navhind Times’ that customers often tell them that Rs 10 coin is bit heavy and inconvenient to carry in purse or wallet.

However, interestingly, this is not the case with Rs 5 coin. People freely exchange the Rs 5 coin at any shop and none have any objection to it.

“We want to create awareness on it every nook and corner. The rumours that Rs 10 coin has not stopped exchanging in the market has to be stopped,’’ feels several bank officials. They feel that the shopkeepers and vendors in the market have to show the way by accepting these coins. [NT]