Another type of unauthorized Demonetization

Another type of unauthorized Demonetization

Vegetable vendors are refusing to accept coins of 50p and 25p denomination. Long ago they had joined small shop owners in refusing Five Rupee Notes though five rupee coins are still accepted. Beggars flatly refuse even two rupee coins saying it is difficult to exchange in supermarkets or hotels at the end of the day; another reason cited is that distinguishing one rupee coin with two rupee coin is a bother? They also seem to be better than bank cashiers in detecting soiled notes. These acts are clearly some kind of unauthorized demonetization thrust upon poor citizens.

When some notes or coins are taken out of circulation how one does get to know it authentically? I am sure WhatApp is the last source I will depend upon. There is

no limit to the rumors spread in WhatApp groups. Today I read the following:

Important msg from Hyderabad police to all over India: For the next few weeks do not drink any soft drink like Maaza, cococola, pepsi, mountain dew, sprite as a worker from one of these company has added his blood contaminated with Ebola virus . It was shown yesterday on NDTV... Pls forward this msg urgently to people you care... Take Care!!

Someone may spread a rumor that “all coins collected by a person called Vyasamoorthy are banned as per one RBI circular issued two years ago” and there are naïve persons who would believe them and others who have no work other than forwarding such non-sense.

How then to dispose of old coins that we have collected over years? I have a few Kgs of them. Put it in temple “hundi”? What if God finds out and punishes me? Give it back for minting, melting etc – might be an offense or illegal, I’m not sure. Or leave it for progeny so that they may get lot of money by selling the lot as rare coins after few centuries? I am at my wits end; please suggest a solution.

Well, if I have nothing else to write, it does not mean you have nothing else to read; kindly quit. No problems. Thanks for coming up to this point, though. Before I close I am clarifying that I am not a blogger being paid to write anything on a “per word” basis – I haven’t become that big yet.