When did you last see a 5, 10 or 20 paise coin? Don't remember?
Here is a brow-raiser: Data from the Reserve Bank of India say these three denominations, along with the 25 paise coin, account for 50 per cent of the change circulated in India.
Of this, the 5,10 and 20 paise coins constitute 29.7 per cent of the total volume of change and 25 paise coins 18.5 per cent as on March 31, 2002.
The other denominations of coins which have a significant volume of circulation are Re 1 coins (at 19 per cent) and 50 paise (at 17.5 per cent).
However, in value terms the share of the Rs 5 coins are the highest at 32.3 per cent (or Rs 2,055 crore) followed by Re 1 coins 24.7 per cent and Rs 2 coins at 16.9 per cent.
The share of 5,10 and 20 paise coins in value terms is only at 3.8 per cent or Rs 239 crore, while that of 25 paise coins was at 6 per cent at Rs 377 crore.
According to the RBI, there has been a significant increase in the circulation of Re 1, Rs 2 and Rs 5 coins with the value of these coins in circulation has almost doubling in the last four years.
The Rs 10 notes has the share of maximum volumes at 31.3 per cent followed by 30.8 per cent of Rs 100 notes and 18.5 per cent of Rs 50 notes at the end of March 2002. The Rs 2 and Rs 5 notes have a share of 13.6 per cent in volumes.
However, in value terms, the Rs 100 notes lead the pack with 48.2 per cent share at Rs 1,18,041 crore, followed by Rs 500 notes with a 28 per cent share and Rs 50 notes at 14.6 per cent.
According to the RBI, there has been a gradual increase in the share of higher denomination notes of Rs 500 and Rs 1000 in circulation both in terms of value and volumes.
The total value of the notes under circulation as on the end of March 31, 2002, was Rs 2,44,655 crore, while that of coins under circulation was at Rs 6,270 crore.
The notes of Rs 2 and above increased by 15.2 per cent during 2001-02 as against an increase of 10.7 per cent during 2000-01. RBI said this reflects the resurgence of agricultural activity.
