I have recently seen decline in all sorts of change/coins. If we go to any shop, the cash vendor is very reluctant to give Rs 3~4 back in form of coins, instead they ask us to give Rs 1~2 so they can give Rs 5. But if they have to return Rs 5, even then they are reluctant, and ask us instead to give Rs 5 coin. Some of them are smart and keep Rs 5 currency notes in very bad/torn state, that we can’t accept it, and give Rs 5 to them.
I asked several shopkeepers that why they don’t give “change” back and give chocolates, to that he replied that they too don’t get coins and have to “purchase coins” with 12~14% commission (to get 100 Re 1 coins, they pay Rs 112~114).
Why are we facing this scarcity of coins? where are all the coins minted getting lost? Is there some racket behind disappearance of coins?
I once heard from somebody that we can get coins in exchange of currency notes in bank, is such facility available at any banks?