Dear Comrades,
With loose change hard to come by, India Post would be rounding off the price of all its products to the nearest rupee to “overcome problems in daily transactions”. And in the process, the government hopes to reduce the postal deficit which stood at Rs 6,345 crore last fiscal year.
Sources said the Department of Posts has proposed that the price of ordinary postcard be doubled to Re 1 while money order forms be sold at Re 1 — four times its present price — following the discontinuation of the 25 paise coins by the Reserve Bank of India from July 1.
“Though the RBI has demonetised coins up to 25 paise only, 50 paise coins are also not being accepted almost everywhere and general instructions for rounding off to the nearest rupee are being followed,” they said. Customers are forced to buy extra postcards or money order forms due to paucity of change.
Tue Sep 20 2011, 02:51 hrs Indian Express
