Hyderabad, Aug 8 (INN): The twin cities of Hyderabad and Secunderabad are facing huge shortage of “Chillar” or small change in view of Eid-ul-Fitr. In fact, it is being sold at a premium of 25 per cent by several roadside vendors in the city.
Coins and currency notes of small denomination are preferred by people while going for Eid-ul-Fitr prayers. A small stock of coins is also kept at home to be distributed as Alms among poor people. However, due to huge demand and short supply, the one and two rupee coins, which are otherwise considered valueless due to inflation, are now available at a premium.
The roadside vendors sitting opposite Reserve Bank of India building are selling the coins of Re 1, 2 and 5 denominations by charging an additional amount of 20 to 25 per cent.
They are selling coins and currency notes of other small denomination. Since people prefer to give one or two rupee coins or a maximum of 10 rupee note to the beggars on the Eid day, they buy this ‘chillar’ from these vendors.
In the absence of five rupee currency note, the demand for 10 rupee currency note has increased and a bundle of Rs 1,000 of 10 rupee denomination is being sold for Rs 1100. The pre-counted bundles of 200 and 500 coins of one rupees denomination and 100, 200 and 500 coins of two and five rupee denominations are available for sale on the footpaths near RBI building, Siddambar Bazar and a few other areas for prices ranging from 20 to 25 per cent more than the actual value of the coins or currency notes.
Over 300 people are associated with the ‘chillar’ business, which is estimated to have done a turnover of nearly Rs 2-3 Crore in the month of Ramzan alone while the turnover does not exceed Rs 1 crore in the rest of 11 months. Therefore, the practice of giving Alms was not helping the poor, but is also giving birth to a new “chillar” industry.