Fake notes. We encounter them every day: be it with local grocer, tea shops, supermarkets, even bank tellers and ATM machines. Finance Intelligence Unit reports a 250% rise in the fake-currency circulation (click article-1) and the Excise department turns to public for support. This is a welcome move from the Indian government. The article quotes that private banks seizes the most fake notes. I presume the private banks are diligent in seizing fake notes compared to the PSU banks which either does not report its seize or does not seize at all. Practically fear grips us in reporting it to the nearest police station or bank.
We tend to check and recheck the higher denomination notes and leave the lower denomination notes unnoticed. Fakes of Rs 5, 10 and 50 and lots of punched metal are circulated engraved with one and two rupee coin designs. These lower denomination notes even fake the watermarks, the silver thread and many other safety aspects incorporated in the currency notes. Even ATM machines and experienced tellers dispense them everyday. Its no good complaining: Click article-2
I blame ourselves: our selfish society rather than the government or the officials, for the latter are we and we are the latter. Faking ourselves, faking notes!
Showing posts with label Coins. Show all posts
Showing posts with label Coins. Show all posts
Sunday, November 27, 2011
Monday, October 17, 2011
Unfriendly coins -- The Indian Rupee
Hassle free money transaction in our daily life is possible by the fine imprints on coins and currencies. This fact has been agreed world-over and is in practice from time immemorial.
Recent series of coins issues by the Indian mint seems to be break this easiness of use. The Two rupee and five rupee coins with the new rupee symbol weigh almost the same and feels like erstwhile fifty paise. The impressions are very smooth and indistinguishable.I got furious when the crowded bus conductor handed over the change which I felt was of less value. The same coin caused confusion to a old woman selling newspaper.
Rising material cost, depreciation of the Indian rupee has rusted the sheen of the rupee coins albeit crowned with the new symbol.
Recent series of coins issues by the Indian mint seems to be break this easiness of use. The Two rupee and five rupee coins with the new rupee symbol weigh almost the same and feels like erstwhile fifty paise. The impressions are very smooth and indistinguishable.I got furious when the crowded bus conductor handed over the change which I felt was of less value. The same coin caused confusion to a old woman selling newspaper.
Rising material cost, depreciation of the Indian rupee has rusted the sheen of the rupee coins albeit crowned with the new symbol.
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