Author Topic: Rs.20 Denomination Coin. Year 2020.  (Read 331 times)

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Offline velind

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Rs.20 Denomination Coin. Year 2020.
« on: November 23, 2020, 08:00:20 AM »





Offline Bimat

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Rs.20 Denomination Coin. Year 2020.
« Reply #1 on: November 23, 2020, 08:30:16 AM »
Looks nice - the shape is a pleasant surprise!

You have to wonder requirement of a new denomination at this stage though - the demand for coins is decreasing anyway and since we already have a ₹20 banknote, people will always prefer carrying a note and not a coin...

Aditya
It is our choices...that show what we truly are, far more than our abilities. -J. K. Rowling.

Offline velind

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Re: Rs.20 Denomination Coin. Year 2020.
« Reply #2 on: November 23, 2020, 09:42:35 AM »
No clue why the Rs. 20 denomination coin has been issued.

Most of the banks I inquired with were reluctant to handle Rs. 20 coins as they are still stuck with many bags of Rs. 10 coins.

RBI should launch a major media awareness program to educate people about accepting Rs. 10 and Rs. 20 coins.

Otherwise, the Rs.20 coin will end up as a collector item only.

Offline dheer

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Re: Rs.20 Denomination Coin. Year 2020.
« Reply #3 on: November 23, 2020, 06:32:41 PM »
Acceptance of new denomination coins is generally low. In current circumstances with digital push, in urban India the demand and desire to handle coins is less... even small tea vendors ask for digital payments instead of coins.... not sure how much rural India will push the demand...
We have to wait for few years.... yes the adoption of rs 10 is still low after 12 years in circulation....
However the adoption of Rs 5 coins was much faster in 5 years
http://coinsofrepublicindia.blogspot.in
A guide on Republic India Coins & Currencies

Offline Pabitra

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Re: Rs.20 Denomination Coin. Year 2020.
« Reply #4 on: November 24, 2020, 05:50:44 AM »
Once they stop printing of Rs 10 and 20 notes, the demand for coins will go up.
Currently 10 Rupees notes were being issued since the mints were unable to mint the requisite quantity.
Now the mints have capacity to mint more, there are all the reasons to stop low denomination notes.