Making Cents: Govt Cites Public Choice, No ₹50 Coin on the Horizon

Centre government has now officially informed the Delhi High Court that there are no proposals to introduce a Rs 50 coin in India. This clarification came after a public interest litigation (PIL) for the release of Rs 50 coins so that visually challenged citizens can easily recognize currency denominations.

 

Why did the case go to the High Court?

PIL was moved by advocate Rohit Dandriyal highlighting the plight of the visually impaired in identifying Rs 50 notes, which lack the tactile features of the higher denomination notes.

 

The plea requested the government and Reserve Bank of India (RBI) to introduce Rs 50 coins, which are easier to identify by touch.

 

What did the Finance Ministry Say?

The Ministry in its affidavit also referred to the RBI survey in 2022 which had determined that the people are more inclined towards banknotes than coins in Rs 10 and Rs 20 denominations due to convenience, weight, and practicality.

 

The government clarified that public acceptability, economic requirements, and usage patterns are the most important considerations for the introduction of new coins.

 

The Ministry said:

 

No proposal is being considered by the department for the release of a Rs 50 coin.

 

Key Highlights

 

No Rs 50 coin on cards: The government is not coming up with any Rs 50 coin.

 

Public preference: RBI survey indicates that individuals like banknotes over coins of equal denominations.

 

Accessibility problems: The Rs 50 note lacks tactile marks, hence it becomes harder for the visually impaired, but the government says that minting a coin is not feasible now.

 

Current measures: Coins with lower denominations (₹1, ₹2, ₹5, ₹10, ₹20) have already been made with easier identification for the visually impaired.

 

Future court actions: The High Court has instructed the petitioner to submit his reply to the government's affidavit, the hearing to take place in September. 

 

Source: The New Indian Express, NDTV, Business Standard