Mission schools steal the lime light again with Nirmalabas taking the lion's share HSLC results out, highest pass pc scripted in last 10 years
IMPHAL, May 20: Results of the High School Leaving Certificate Examination 2013 conducted by Board of Secondary Education Manipur have been declared today with Miranda Mongbijam of Nirmalabas School securing the top position. Born to M Iboyaima and Non.....
Third topper sets eyes on donning IPS uniform
IMPHAL, May 20 : To become an IPS officer and wage a crusade against corruption is the aspiration of Ratimanjuri Devi Hajarimayum who secured the third position in the HSLC Exam 2013 conducted by BSEM. “It was because of blessing by the Almighty tha.....
Civil services on 2nd topper's top choice of list
IMPHAL, May 20: Fight crimes against women and children in the capacity of an IAS officer is the aim of Keisham Luxmirani who secured second position in the merit list of HSLC Exam 2013 conducted by BSEM. Luxmirani is the second youngest of five siblin.....
Topper eyes medical profession
IMPHAL, May 20 : Determined to pursue medical studies, HSLC Exam 2013 topper Miranda Mongbijam has been already admitted in an institute in Hyderabad even before the exam results were declared. When this reporter visited Miranda at her Thangmeiband Lai.....
SK Oil
IMPHAL, May 20: Amidst the irregularity of SK Oil distribution in the State, the Petroleum, Planning and Analysis Cell, New Delhi has cut down 32000 ltr of the State share of SK Oil without any rhyme or reason. Adding to this woe, 188 kl out of the to.....
Gen strike
IMPHAL, May 20: The Kuki Students’ Organisation (General Headquarters) has announced a 24-hour general strike from 5am of May 21 (Tuesday). Announcing this in a statement, the KSO said the general strike would be followed by indefinite economic block.....
UNC endorses
IMPHAL, May 20: Endorsing the decision of the Aze Longphang, the apex organisation of Southern Tangkhul villages taken in its emergency General Body meeting on May 11, that any encroachment on Sailent foothills will be responded suitably, the United Nag.....
Rs 10 lakh incentive for Everesters
IMPHAL, May 20: The State Government has today decided to give cash incentive of Rs ten lakhs each to all the Manipuris who successfully scaled Mt Everest recently. According to Government spokesman and Education Minister M Okendro, a decision to this .....
NPF flays
IMPHAL, May 20: The Naga Peoples Front (NPF), Manipur State has termed the eviction drive of the State Government of Manipur at Kabo Leikai along the Naga river as ‘demolition’ and said the Congress Government will be held responsible for any untoward.....
Demolition Team tag sits pretty on State Govt Residents of Kabo Leikai evicted unceremoniously
IMPHAL, May 20: Twenty two houses at Naga River Lane, Kabo Leikai were razed to ground today as part of the Govt’s eviction drive of the area. Meanwhile, pattadars of the evicted land have pledged to fight for justice. At the same time, the United Co.....
Profiling the muse in Irom Sharmila
New Delhi, May 20: A 1000-word “very long” poem, penned by Irom Sharmila, who has been on fast for the past 12 years to protest against what she calls repressive laws allowing widespread human rights abuses, forms part of a new book on the activist fr.....
Tml hospital work staring at dead end
TAMENGLONG, May 20 : The ongoing construction of a 50-beded hospital in Tamenglong is staring at a dead end due to want of fund for the completion of the project. Contractors undertaking the construction work of the Tamenglong 50-beded hospital rued th.....
Ibobi bats for mutual understanding
IMPHAL, May 20: Even if people settled around Singda Bazar do not possess patta for the lands occupied by them, they would not be evicted as of now. Rather, the Government would like come to an understanding with the people. This was stated by Chief Mi.....
India, China Vow To End Border Dispute, Sign 8 Agreements Lessons learnt from recent stand off
NEW DELHI, May 20: Taking stock of “lessons learnt” from the recent stand-off in Ladakh after a Chinese incursion there, India and China on Monday decided on further measures for maintaining peace and tranquility along their border. This was disclo.....
Politicians, men in uniform and law and disorder in Manipur
By Hijam Santosh Several people from all spheres have condemned AFSPA but to no avail and the reasons are because the persons at the helm of affairs stand to benefit. The .....
Cyclone Mahasen spares Manipur. Will UGC team do the same ?
By Khingba Luwangcha Manipur remained indoors when news of Cyclone Mahasen expected to sweep across the State (Churchandpur and Tamenglong first) on May 17 painted the region black and white. Holiday was declared for schools and colleges. Safety tips wer.....
Traditional healing methods with special reference to Manipur
By Dr K Paochunbou (Contd from previous issue) Some of the medicinal plants used in the treatment of Jaundice and Hepatitis-B infections Sl. No. English Botanical Manipuri Hindi or Latin 1 Ceylon Leadwort Plumbago zeylanica. L Te.....
Mis-selling Insurance
Contd from previous issue But the panic began when they looked at their account statements at the time of the second or the third year premium, they realized almost all their money had got deducted as costs. Those expecting double the money at the end .....
Grounding ground rules to dust The notuntouchables
They are not untouchables. The reasons must be compelling for none other than the Deputy Chief Minister who also holds the Home portfolio to come out with such a statement. The ‘not untouchables’, that the Deputy Chief Minister was referring to are th.....
Free detection camp
IMPHAL, May 20: A one-day free diabetes/BP detection camp was held on May 19 under the aegis of Namdunlong Youth Club. Many, among the 100 patients, were detected to be in pre-diabetic stage and diabetic. Free medicines were also provided to the patients,.....
Manipur Masala
By : Sanatombi Angomcha
Where have all the coins gone?
Achoiba leitey lupa ahumdu meethai haapaklagey—at every dukan and grocery shop at every leirak and leikai, this is inevitably the only reply we get from the shopkeepers because they don’t have the change. When was the last time you got the change from a shop? Have you ever complained when the shopkeeper returned you a fistful of toffees, as if the few rupees are nothing but insignificant? Most of the time we would take the toffees grudgingly, if not, the only thing we can do is to ask for match boxes instead of the toffees.
We know the obvious response from the neighbourhood dukan-fumbers: there is a shortage of coins in the market so they are helpless and are resorting to unasked Chrolomints and Sunflower match boxes. But there are more reasons than meet the eye.
Last year when a couple of shopkeepers’ associations in Mumbai complained to the Reserve Bank of India (RBI), which earlier used to dispense the coins directly but has given the responsibility to the bank branches now, the latter refuted and screamed that hoarding and black market are to be blamed for. Officially in India, the coins are distributed through RBI offices (in the Northeast, these are located in Guwahati and Agartala), bank branches and currency chests.
Closer home, there is another perspective. On conditions of anonymity, an official at the State Bank of India (SBI) gave me some plausible explanations. He said, ‘There was a coin dispenser installed at the SBI Imphal branch a few years back. But the unscrupulous agents would empty the container, leaving literally, no change for the unsuspecting public.’ That constituted a paltry portion of the black-market economy in Manipur.
Then there is also the high cost of transport, which results in a limited supply of coins. The anonymous SBI official added, ‘Coins are usually transported through flights. The present shortfall cannot be adjusted with more supply as frequent remittance is not possible. Besides, the coins are heavier and are relatively of lesser value than paper notes of higher denominations. So generally,the banks opt for bigger paper notes for transaction, ATMs and other dealings.’
Throughout India there is rampant hoarding and black marketing of coins as countered by the RBI officials to the shopkeepers’ association in Mumbai. For example, a hundred of one rupee is usually sold at a premium of Rs 10, but it can go up to Rs 20 in the fluctuating black market. The rate might be different in Manipur and it is open to question how the coins have vanished into thin air.
An examination of the scarcity of coins in various parts of the country might offer a bigger picture. Earlier this year, the RBI had decided to back out from retail operations and hence halted their distribution of coins from its offices. But there are allegations of procedural inexperience of the present distributors, which has further resulted in the rising price of coin and an uneven demand-supply ratio. Inadvertently this is affecting the economy very badly.
Let’s do a simple math. Suppose in Manipur, a one person loses Rs 3 a day while shopping; then the state loses Rs 81,65,268 daily, if we take into account the present population of 27,21,756 as per the 2011 census. Needless to say, some economists measure the shortage of coins is adding to 3% to 5% inflation in the national economy.
It will take a deeper analysis of the problems but there are several allegations on why the scarcity is happening at the first place, and these are not without reasons. The first of them is the rising price of metals. The RBI, for instance, has reduced the new 50-paise coins to the size of the 25-paise coins. The 25-paise coins are no more in circulation. This explains loosely the possible reduction of the number of coins being manufactured each year.
In an interesting way, there is also an allegation that coins, to the tune of crores of rupees, are in the strongboxes of temples across the country. Needless to say, all of these reasons are providing the banks to earn unethically as most of them simply round off the change.
When the whole country is reeling under the deficiency, it is no wonder our state is also pushed into the corner. But hopefully, consumer awareness could be one of the probable solutions to it.
Perhaps we could also approach the concerned banks with our queries; perhaps the financial professionals can voice on behalf of us.
A wake up call is quite a must and it should start pretty soon. Where have all the coins gone? We should have a solution right?
b havesh chandra
good..keep it up and find some solution also,...
Radhakanta
I think main causes of scarcity of coins in Manipur is PIGGY BANK. people used to drop the coins into piggy bank.(SHEMPHU/ Shel chaphu)
