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The money no one wants: Bankers, traders grapple with a coin-glut 'crisis'

Bankers, traders grapple with a coin-glut 'crisis'

The money no one wants: Bankers, traders grapple with a coin-glut 'crisis'
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Namrata Acharya Kolkata
Traders and citizens are finding it difficult to deal with a glut of coins in the market, even as bankers are groping for solutions to curb the huge inflow of metal money. Much of the problem is on account of Rs 10 coins, the value of circulation of which has surged about 40 per cent in value in the past year, according to data from the Reserve Bank of India (RBI).

The abundance of coins occurred mainly after the government banned Rs 1,000 and Rs 500 notes on November 8 last year. With demonetised notes already occupying large portions of bank