Discontinuing 25 Paise Coins
Reserve bank of India (RBI) has notified discontinuing coins of 25 (and below) from 30.06.2011. It is time that RBI may plan for reducing sizes of other coins of 50-paise and one rupee to reduce minting-cost and to ease burden on pockets.
Read this : 25 paise coin discontinued after June 30
However 2-rupee coins need to be discontinued because usually consumers have either to pay 2-rupee coins in place of 1-rupee coins, or shopkeepers gives unwanted items like candies etc in place of balance 1-rupee coin to be returned. This is because of the fact that currency-chests often force 2-rupee coin-bags because of usual short supply one 1-rupee coins. Most people in practice try to get rid of 2-rupee coins.
Design of bi-colour 10-rupee coins is not proper, and needs to be rectified. It will be better if it may also be attractively designed in a bigger size like single yellow-coloured 5-rupee coins.
It is time to discontinue printing of currency-notes of rupees 5 and 10 with more coins of these denominations put in circulation. It will not only save high printing-cost of low denomination notes with much lower life, but also will pave for further saving on currency-printing by reducing sizes of currency-notes of other denominations. It is not understood how and why RBI re-introduced 5-rupee notes after they were once discontinued to be printed some decades ago!
However to practically check currency-related crimes like fake currency, black money, cash-loot etc, RBI should follow advanced countries by discontinuing printing of higher denomination currency of rupees 500 and 1000.
