Candies for coins, anyone?

If you do a quick dig through your purse or trouser pockets, the chances of finding old chewing gums or candies are more than finding one or two rupee coins. Nope, it’s not your new found addiction to chocolates and gums, it’s instead the barter exchange system self implemented by most shopkeepers in India.

Will shopkeepers, taxi guys, auto drivers or bus conductors ever accept chocolates instead of  change because you do not have ? No way! But we are forced to accept these in lieu of coins. In 2012, Reserve Bank of India conducted a survey in twelve major cities and 44% of the survey respondents felt cheated as they now only got candies in the name of loose change. RBI’s annual report showed that the total supply of coins, those of less than one rupee fell drastically to 15 billion from 55 billion in 2011. While yes, this has to do with the withdrawal of 25 paise coins, there has not been an increase in coins of one rupee domination either. While the coins circulations are not increasing, we have to pay odd non-round figure payments, everywhere from tolls, groceries and public transport.

There seems to be only one probable solution: have only round figure payments or stock up change, or the most probable answer- live with candies for coins.