APARAJIT CHAKRABORTY aparajit@thestatesman.net Kolkata, 31 July The state transport department, including the private bus operators have introduced plastic coins to give exchange…
APARAJIT CHAKRABORTY
aparajit@thestatesman.net
Kolkata, 31 July
The state transport department, including the private bus operators have introduced plastic coins to give exchange for fares, but the whole arrangement is illegal and violates the Reserve Bank of India rules.
Private bus operators and state transport operators throughout the state have been facing acute shortage of coins. As a result, their business has been seriously affected.
In a desperate bid, private bus operators and state transport operators had urged the state transport department to allow them to issue plastic coins in denominations of Rs 5, Rs 3, Rs 2 and Re 1 to passengers which can be used by the passengers in place of coins.
The demand was raised following paucity of loose change; most passengers offer Rs 10 notes for fare amounting to Rs 5 or Rs 6.
Private bus operators of various routes (see table) have been using of plastic tokens for the past 3-4 months. “We had urged the state government and RBI for taking initiative to resolve acute shortage of currency. But they have failed to solve the problem,” said Mr Sadan Das, general secretary, Joint Council of Bus Syndicate. If the experiment becomes successful transport operators have plans to use even plastic coins denomination of Rs 10, Rs 20 and Rs 50 to resolve shortage of currency,” Mr Das said.
The state transport minister Mr Madan Mitra pleaded helplessness.
"We know it is illegal and a violation of RBI guidelines, but we have no option. We approached the RBI several times to supply us with token in denominations of Rs 5, Rs 2 and Re 1 but we received no response. This forced us to resort to the illegal use plastic token,” he said.
Noted economist Mr Abhirup Sarkar said, “It is a matter of grave concern that private bus operators have been using plastic tokens. The RBI and the Centre should take initiative to resolve the acute shortage of currency problem.”
Advertisement
