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News  


 

Move to flush out ‘hidden’ coins

Stagnation of coins in tills in temples and at homes was the main reason for the shortage of coins in the day-to-day cash circulation, a Central Bank source said.
Sources said the Bank would soon announce a scheme to bring the coins out into the cash circulation aimed at overcoming the shortage.
Sources recalled that earlier a scheme was introduced by offering prizes to those who deposit their coin collections in banks but it became counter productive because the scheme encouraged people to save more coins in their eagerness to win prizes.(SS)