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No proposal to introduce ₹50 coin in market: Centre tells Delhi HC
The Centre stated that it had conducted a survey in 2022 to analyse the usage of patterns of existing coins and banknotes in circulation
The Union finance ministry has told the Delhi high court that it does not propose to introduce ₹50 coin in the market, as the public has shown preference for using banknotes over the existing coins of ₹10 and 20 for everyday transactions, due to their weight and size.
In its affidavit filed on Tuesday, the Centre stated that it had conducted a survey in 2022 to analyse the usage of patterns of existing coins and banknotes in circulation, and the findings revealed a preference for banknotes over the coins.
“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 (RBI) survey, the public currently shows a preference for banknotes over coins in the ₹10 and ₹20 denominations. Therefore, any decision to introduce a ₹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. At present, no proposal regarding introduction of a ₹50 coin is under consideration by the department,” the affidavit stated.
“That with regards to the feasibility of introducing ₹50 coin, it is submitted that the Reserve Bank of India conducted a survey in 2022 to analyse the usage patterns of existing coins and banknotes in circulation. The findings revealed a preference for bank notes over coins for the ₹10 and ₹20 denominations. Survey respondents identified the weight and size of coins– particularly the similarity in size across denominations- as significant impediments to the usage of coins”, it added.
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The affidavit has been filed in a petition preferred by advocate Rohit Dandriyal seeking directions to the Centre to issue ₹50 coins, to provide equal opportunity and ease of doing business to visually impaired citizens. It went on to add that even though the currency notes of other denominations including ₹1, ₹2, ₹5, ₹10, ₹20, ₹100, ₹200, ₹500 and ₹2,000 were designed to be accessible for the visually impaired, the ₹50 note lacked such features.
It further argued that ₹50 note did not contain any intaglio printing or tactile markings, thereby rendering it inaccessible to visually impaired individuals and leaving no effective substitution in circulation.
The affidavit will be considered by a bench of chief justice DK Upadhyay and justice Anish Dayal later in the hearing on Wednesday.
In its six-page reply, the Centre further stated that the all the banknotes except ₹10, 20 and 50 issued under the Mahatma Gandhi Series in 2016, incorporate a sharp colour contrast scheme for facilitating denomination identification by individuals who are partially visually impaired but a possibility of confusion or difficulty in denomination identification exists due to the concurrent circulation of two series– namely the 2016 series and the earlier MG series.
“The banknotes issued under this series incorporate a sharp colour contrast scheme aimed at facilitating denomination identification by individuals who are partially visually impaired. It is pertinent to note that each denomination under the Mahatma Gandhi (New) Series has distinct dimensions, thereby enabling visually challenged individuals to differentiate between denominations through tactile means. There exists a possibility of confusion or difficulty in denomination identification by the visually impaired primarily due to concurrent circulation of two series-namely, the Mahatma Gandhi (New) Series and the earlier Mahatma Gandhi Series,” the affidavit stated.
It added that the RBI, to enhance the quality of life of its citizens had however launched a mobile application called MANI (Mobile Aided Note Identifier) in 2020 to aid visually impaired persons to identify the denomination of banknotes. To ensure the accessibility and ease of identification of all coins, the affidavit stated, the Centre on March 6, 2019 had also introduced a new series of coins in the denominations of ₹1, 2, 10 and 20.
