Sunday, January 27, 2013

Change for Change

I actually have tried to think about this but do not understand the logic behind why we always have a shortage of coins. I am not talking about less money. That I sort of understand. I am asking why in India we never seem to have the 1 rupee, 2 rupees, 5 rupees and 10 rupees in ample circulation. Any shop I go to they always ask for change from me. All bus conductors ask for change. I am unable to accept chocolates as currency; after all, who would like to become choco-fat? Moreover, a chocolate would have costed me Re.1 but since the shop-owners buy it in bulk, it costs much less to them.

I get all my cash from ATM machines and it dispenses only Rs.100, Rs.500 and Rs.1000 notes. Why not have coin dispensing machines at strategic locations?

People will surely bless the banks who can change this! For Bangalore I would suggest keeping large coin dispensing machines at Majestic (KBS) to enable all bus conductor to carry and store ample amount of change in the bus. Other good locations include huge bus transit stops such as Silk Board, Electronic City, Hebbal, Shivajinagar, Satellite Bus Stop, and all metro stations and all Malls. In Pune similar machines can be placed at Swargate, Corporation, Shivajinagar, Deccan, Kothrud Depot, Pune Station. In Mumbai they can be placed at all railway stations, all major bus stops and at all Malls.

Personal Experience:
One day while travelling in a BMTC bus, I saw a man take a ticket for Rs.7. He gave a ten rupees note to the conductor and the conductor wrote something on the back of the ticket since, "supposedly", he did not have the Rs.3 change. A few bus stops later, the gentleman alighted the bus forgetting about the Rs.3 he was supposed to receive. As soon as he climbed down, he must have remembered, but the bus was already on its way. All sorts of waving and clapping on the mans part could not stop the bus. This gentleman was poorer by Rs.3 and the conductor made a black Rs.3 profit!

How to get coins from SBI? I was recently told by a shopkeeper that the SBI can give coins in excess of Rs.20,000/- if you are able to produce documentary proof about the existence of your shop and produce VAT receipts etc. Why so much barriers? It is our country's currency after all - and I am not asking it for free!

I would like to hear from you about your opinion and your experiences regarding this.

Edit: March 8, 2014:
State Bank of Hyderabad has installed a coin vending machine at Kacheguda Railway Station in Hyderabad.
It was not in a working condition when I checked it, but this is the right step.


3 comments:

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  2. True..Not only shrotage of coins, I think VOLVO conductors should carry ample number of 10Rs also. I have seen them writing on back of tickets for 30-40Rs also. If one person, in hurry, forgets to collect the money?:conductor can easily make the profit.
    One more point which may be deviating the main topic, but as a precaution to the passengers, telling a personal experience. I have seen the Bangalore Volvo conductors giving 10Rs less than what they are supposed to give. And the passenger who is talking on phone or settling down to find a seat wont check the money given by the driver and simply keeps it in purse. But the conductor, as if he didnt do that wantedly, stands with 10Rs note to give it to them, IF THE PASSENGER CHECKS AND ASKS FOR IT.
    So just not to lose my 1Rs or 2Rs, I always keep the coins I get separately for bus travel but cant do anything for 10Rs notes except keeping it in mind and asking for the change before two stops of my destination...and I dont accept chocolates in place of coins instead i tell them to keep it with them and use it on other day.

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    Replies
    1. Agree with you.

      I am also surprised at the lack of importance people place on such things. No one seems to be worried about these daily hassles one has to endure.

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