Change hain?

The city is facing a huge shortage of coins (chillar). Few might attribute it to the festival of Eid, but the fact is that the change is being sold at a premium of 25 per cent by several roadside vendors.

Coin change and currency in small denominations are usually carried by people while going for Eid prayers. They also prefer to keep a stack of coins at home to be distributed as alms. However, due to an increase in demand and short supply, one and two rupee coins, which are otherwise considered valueless due to inflation, are now available at a premium. Pre counted stack of coins of Rs 1, 2 and 5 are sold at a premium at areas in and around RBI building by charging a premium of 25 per cent. These vendors are making their business on the fact that people prefer to give Rs 1 or Rs 2 as alms on the day of Eid.

A bundle of Rs 1000 of 10 rupee denomination is sold at Rs 1100. It is estimated that there are more than 200 people involved in this business, which is perennial and flourishes in the month of Ramadaan. The estimated turnover will be between Rs 2-3 cr with bulk business happening in the month on Ramadaan.