If you are going to the neighbourhood grocery store, remember to carry change. Coins have, of late, become a rare commodity. Retail/petty traders and consumers alike are hit by the severe shortage of coins. They are now buying them from beggars and black-marketers for a premium. “Earlier, we use to get coins from the Reserve Bank of India’s retail counters and some agents who charged 3-5 per cent. But now there are black-marketers who are charging up to 18 per cent more for change,” Jana Narender, owner of a grocery store here, told Business Line.
“Luckily, beggars are not that greedy. We are sourcing coins from them by paying 10-15 per cent more,” said Gudem Ramesh, a functionary of retailers’ body at Sultan Bazar, a retail market hub here. RBI’s annual report released a couple of weeks ago testifies to the problem. “There has been a spate of complaints about non-availability or short supply of coins in recent times,” it said.
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