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Image ID: 117933161

Caption : GUWAHATI?02-09-2010 (SHORTAGE OF COINS HIT NORTHESAT INDIA) A vendor systematically displays coins in his Pan Shop in Guwahati on Thursday, September 02, 2010. There has been a sevier shortage of coin in entire northeast region since last couple of months. The Reserve Bank of India (RBI) has already started distributing coins in some major areas in the Guwahati city with their mobile vans. To overcome the shortage of coins in the North East, the Reserve Bank of India has asked the banks operating in the region to install coin vending machines. The apex bank will extend financial support to the bank branches for installation of the machines. Installation of such coin dispensing machines not only facilitates easy distribution of coins to the public, but also reduces manual handling of coins. The bank will bear 50 per cent of the total cost of the vending machines in urban areas, while in rural areas their share will be 75 per cent. For smooth supply of notes and coins, RBI is also planning to increase the number of currency chests from 167 to 177 in the North East. Millions of Indian coins from northeast India are being smuggled into neighbouring Bangladesh and turned into razor blades. And that?s creating an acute shortage of coins in many parts of India. These coins are smuggled through the porous border. The metal used for manufacturing coins is suitable for making razor blades. PHOTO: RITU_RAJ_KONWAR

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Photographer :Ritu raj konwar
Economy Business and Finance

Creation Date: 2010-09-02
Image Size: 3246 x 1326 pixels
File Size: 1 MB

State : ASSAM
Country :INDIA

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