•RBI is one of the reasons for inflation,
let me explain. Non-availability of low denomination notes like Rs.10,Rs.20 and
Rs.50 and coins Rs.1,2,5,10 led to increase in rates by shops, vendors to
overcome change issue. Rs.100/500/1000 significantly caused black money issue also
and counterfeit also increased. What is RBI difficulty in printing more
coins and disbursing to public and shop owners.
•Reserve Bank has not efficiently disbursed the coins to shops, public, banks, govt offices, transport offices for easy circulation to all public through centres in each district of all states not just in RBI office alone wont help, you can consider special ATM with coin vending machines. Why should every one go to RBI office to get change or exchange notes. RBI, Govt, banks should setup office in each district as disbursement office or partner with any branch and setup coin disbursing machines near a ATM. The list of such coin dispensing machines should be available in website of RBI.
•The design of coins are so poor that we cant differentiate coins, sometimes Rs.2 and Rs.5 have same size. At least diameter of coins must vary significantly. In 2009 the Rs. 1 and Rs. 2 coins are still in circulation and same diameter is RBI designing so poor. A coin based on diameter we must be able to differentiate easily. How do you expect a blind person or a passenger to use coins. Since the coins of same value are in different diameters even vending machines also have not become popular in India. Vending machines mostly work based on weight but once 50p went u made Rs1 same diameter and sometimes Rs.1 and Rs.2 same diameter and same weight vending machines take the Rs.2 coin as Rs.1 at times. Maintain distinct weight different by 5 gmsconstantly. Fix design, size, weight and don’t change for 5 years.
•If RBI works directly with bus organisations of states, railway stations, banks, the money will easily go to public fast and new coins will reach fast. Even banks ask to make challan to deposit in A/C as change not there.
•Rs.10 coins have not been circulated well, we don’t want fancy design for Rs.10 coins we just want circulation to increase. Please make a coin more than 5gms weight of Rs.10 and breadth increased. Diameter too big people cannot carry in wallet. Reduce Rs.10 notes increase Rs.5,Rs.10 coins quickly.
•Reserve Bank has not efficiently disbursed the coins to shops, public, banks, govt offices, transport offices for easy circulation to all public through centres in each district of all states not just in RBI office alone wont help, you can consider special ATM with coin vending machines. Why should every one go to RBI office to get change or exchange notes. RBI, Govt, banks should setup office in each district as disbursement office or partner with any branch and setup coin disbursing machines near a ATM. The list of such coin dispensing machines should be available in website of RBI.
•The design of coins are so poor that we cant differentiate coins, sometimes Rs.2 and Rs.5 have same size. At least diameter of coins must vary significantly. In 2009 the Rs. 1 and Rs. 2 coins are still in circulation and same diameter is RBI designing so poor. A coin based on diameter we must be able to differentiate easily. How do you expect a blind person or a passenger to use coins. Since the coins of same value are in different diameters even vending machines also have not become popular in India. Vending machines mostly work based on weight but once 50p went u made Rs1 same diameter and sometimes Rs.1 and Rs.2 same diameter and same weight vending machines take the Rs.2 coin as Rs.1 at times. Maintain distinct weight different by 5 gmsconstantly. Fix design, size, weight and don’t change for 5 years.
•If RBI works directly with bus organisations of states, railway stations, banks, the money will easily go to public fast and new coins will reach fast. Even banks ask to make challan to deposit in A/C as change not there.
•Rs.10 coins have not been circulated well, we don’t want fancy design for Rs.10 coins we just want circulation to increase. Please make a coin more than 5gms weight of Rs.10 and breadth increased. Diameter too big people cannot carry in wallet. Reduce Rs.10 notes increase Rs.5,Rs.10 coins quickly.
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