10-rupee coin becomes valueless in Nabarangpur: Banks seek administrative aid

Prameyanews English

Published By : Prameya News Bureau | November 12, 2021 IST

Nabarangpur, Nov 12: 10-rupee coins have become valueless in Odisha’s Nabarangpur district since neither the purchasers nor the businessmen accept it during transactions. Sources said, the ten-rupee coin is going out of the market in the Nabarangpur town and at the rural suburbs after a rumour spread regarding its invalidity. As a result, the coin is not at all accepted by anybody. Consequently, locals, particularly the labour class people are facing acute problems to purchase household goods within their capacities. Similarly, the petty vendors are denying to batter goods against the 10-rupee coins. On the other hand, lakhs of coins with 10 rupees denomination are rusting in various banks as it lost the demand among the customers and business houses. Bank authorities admitted the problems regarding the acceptability of the coin. Chief Manager, State Bank of India Nabarangpur, Nachiketa Nayak said, 10-rupee coins over worth Rs 1 Crore has been treasured with banks so far after they were left un-transacted in the local markets. Locals are exchanging 10-rupee coins right now, after the rumour on the coin intensified a few weeks ago. However, he will seek the help of the district administration to expedite the use of the coin, he added.

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