Lokmat News Network
Chhatrapati Sambhajinagar
The Rs 10 note has almost disappeared from markets, creating trouble for small purchases. Even Rs 20 notes are rare, leading to arguments and confusion in daily transactions.
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Reason behind the shortage
Rs 10 notes have been missing from the market for months. The few available are in poor condition. Customers blame traders for hoarding, while traders allege that banks are not issuing these notes. However, banks deny any shortage.
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RBI supply reduced
Officials from SBI’s currency chest said the Reserve Bank has not supplied new Rs 10 notes since Diwali due to reduced credit disbursement. Damaged notes are being collected and sent back to the Reserve Bank.
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Push for digital payments
The government’s push for cashless transactions may be behind the reduced supply of Rs 10 notes. Currently, 50% of city transactions are cash-based, while the other 50% use UPI. However, with many still reliant on cash, traders urge the Reserve Bank to ensure sufficient Rs 10 note supply.----------------(Lakshminarayan Rathi, Vice President, District Traders’ Association)