Rs 10 notes gradually vanish: Merchants facing cash crunch as digital payments rise

Bengaluru, Oct 17: In a surprising twist, Rs 10 notes are vanishing from circulation, leaving merchants grappling with a shortage of small change. With digital payments skyrocketing post-demonetisation, cash transactions have taken a hit, and Rs 10 notes are becoming increasingly elusive.

Thanks to initiatives like the Jan Dhan scheme, most Indians now have bank accounts, fuelling a boom in apps like PhonePe and Google Pay. As a result, cash usage is plummeting, but Rs 10 coins are thriving, becoming the currency of choice for everyday purchases.

Finding a Rs 10 note in the market is now a challenge. Merchants face difficulties providing change, often forcing them to break larger bills. Remember when a Rs 10 could buy a decent chocolate? Those days are gone, leaving traders in a tight spot.

For larger purchases, cash remains king, driven by fears of tax implications with digital payments. Consequently, coins of Rs 1, Rs 2, Rs 5, and Rs 10 dominate transactions, while Rs 10 notes seem to have disappeared altogether.

According to bank officials, the Reserve Bank of India is only issuing Rs 20, Rs 50, and Rs 100 notes, further sealing the fate of the Rs 10 note. Those still clutching a Rs 10 note are considered lucky, dodging the growing headache of cash shortages.

As the landscape shifts, the future of small denominations hangs in the balance. Will Rs 10 notes make a comeback, or are they destined to become a relic of the past remains to be seen.