Hyderabad, August 18: With the arrival of Eid, the demand for 'chillar' or small change has touched a new high.
As everyone wants to give Alms on the occasion of Eid, they have started preserving 'chillar' or small change for the purpose. Therefore, the city is presently facing a shortage of coins and currency notes of small denomination.
Otherwise being considered valueless due to inflation, the one and two rupee coins have regained their importance in view of Eid and therefore, they are now available at a premium.
This demand-supply gap has led to the establishment of an un-organised but vast 'Chillar business' in the twin cities of Hyderabad and Secunderabad.
People sitting on the footpaths opposite the Reserve Bank of India and a few other places in the city with packets of coins may look small vendors. But for the next three days, they would be doing a turnover of nearly Rs 25 lakh. They are selling coins and currency notes of 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.
This year, the devaluation of currency has reduced the importance of Five Rupee currency note. Earlier one bundle of 100 currency notes of five rupee denomination used to be sold for Rs 700, but this year, it is available for around Rs 550. However, the demand for 10 rupee currency notes is still high. The demand for coins or 'chillar' is still unbeatable as this year too it is likely to do lucrative business with high volumes. The profit margin in coins' business is more than 15 per cent.
Over 300 people are presently associated with the 'chillar' business, which is estimated to do a turnover of nearly Rs 25 lakh. 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 15 to 25 per cent more than the actual value of the coins or currency notes.
Therefore, after Biryani and Haleem, the city will soon become famous for giving Alms on the occasion of Eid and this would again lead to the growth of a new "Chillar Business".
- INN
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