Published Paper Details:

Demonetization is considered as a sound attempt to make India a Cashless Economy. But the move caused huge disruption to everyone's lives. Most people encountered problems in accessing cash for their daily needs, with pictures of serpentine queues outside banks and ATMs becoming an essential staple of news reports. The people of India as well as government were expecting many positive outcomes from recent demonetization on 8th November, 2016 but no such positive outcome has seen yet rather a new problem has emerged. After demonetization a surplus circulation of coins has seen in the economy due to which the banks, post office, small retailers and atlast the consumers are being negatively affected. In many cities the consumers are facing problems in making payments by coins as many small businesses are not accepting 1, 2 and 5 rupees coins by stating that neither the wholesalers nor the banks are accepting the coins. While taking interview of many branch managers, it has been disclosed that there is problem of storage of coins, problem of counting coins while receiving it from customers and again the customers are not taking it back by stating that retailers and wholesalers are not receiving it. This paper is an attempt to throw light on various causes due to which the coins are unacceptable for consumers, small businesses and banks. Apart from that the paper also considers the problems faced by consumers and small businesses due to non-acceptability of coins.