Blitz Bureau
NEW DELHI: The Ministry of Finance has told the Delhi High Court that at present, it has no proposal under consideration regarding the introduction of a Rs 50 coin. The Centre’s response came in the backdrop of a plea, filed by advocates Rohit Dandriyal and Mini Agrawal, which sought directions to issue Rs 50 coin, highlighting the distress and inequalities faced by visually impaired citizens due to the design of the Rs 50 currency note, which makes it difficult for them to distinguish between denominations.
Referring to the findings of a survey conducted by the Reserve Bank of India (RBI) in 2022, the Union Ministry of Finance, in its affidavit, highlighted the preference for banknotes over coins for the Rs 10 and Rs 20 denomination since the weight and size of coins, particularly similarity in size across denominations, posed significant impediments to the usage of coins.
It said the decision to introduce a circulation coin of a particular denomination depends on multiple factors, including the public’s readiness to accept the coin and the frequency of its use in everyday transactions.
“As indicated by the Reserve Bank of India’s survey, the public currently shows a preference for banknotes over coins in the Rs 10 and Rs 20 denominations. Therefore, any decision to introduce a Rs 50 coin would depend on several factors, including requirement of the economy, degree of public acceptance, etc., in addition to the concerns of the visually impaired persons,” said the affidavit sworn by an Under Secretary in Coin & Currency Division of the Department of Economic Affairs.
