NPYF flags illegal refusal of INR 10 and INR 20 coins in Dimapur, warns of economic impact and disrupted transactions.
Share
DIMAPUR — Raising alarm over an “ongoing and widespread” malpractice, the National People’s Youth Front (NPYF), Dimapur district, has urged authorities to crack down on the “illegal” refusal of INR 10 and INR 20 coins, warning that the practice is disrupting daily transactions and hurting the local economy.
In a press release, the district unit stated that despite repeated clarifications by the Reserve Bank of India (RBI) that INR 10 and INR 20 coins are valid legal tender, their non-acceptance by shopkeepers, vendors and sections of the public continues across Dimapur.
Reasoning that the issue goes beyond inconvenience, it stated that this “illegal “practice has wider economic implications.
It highlighted that citizens bringing coins from outside the state are often unable to use them within Nagaland due to the prevailing practice.
Read top news: Nagaland GST collection jumps 25%, outpaces national growth
Nagaland: State employees turn up heat, observe Black Day over pension row
“As a result, these coins remain unused or are spent outside the state, leading to financial loss and affecting local currency circulation,” it stated, adding that such trends could weaken the state’s economy if left unchecked.
The NPYF unit warned that continued refusal of valid currency risks eroding public confidence in the monetary system while hampering smooth financial transactions.
Calling for immediate intervention, it appealed to the district administration to issue strict directives to all commercial establishments to accept INR 10 and INR 20 coins without refusal. It also urged authorities to initiate legal action against violators and ensure enforcement through relevant agencies.