Sunday, September 29, 2024
Blog/Opinion

Now rupees one thousand coins

It refers to media-reports about government considering issuing coins in denominations of rupess one-thousand and others. Minting of fake-coins will be rather easier than printing fake currency. Otherwise also currency (or coins) in higher denominations always serve as carrier of black money. Even in countries like US and UK, higher-denomination currency above 100 dollars or pounds is not printed. Even currency-notes of 100 dollars are hardly seen in normal circulation.

Union government should rather consider advice of Baba Ramdev to discontinue even currency of rupees one hundred and above instead of issuing higher-denominations coins like of rupees one thousand. Otherwise also, it is senseless to issue coins of such higher denominations when rupees ten coins are yet to attain popularity amongst public.

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