In a surprising incident reported from Tamil Nadu, a man recently bought a car worth Rs. 6 lakhs using as many as 60,000 Rs. 10 coins for one simple reason. Initially the car dealership in Tamil Nadu’s Dharmapuri was hesitant to accept his strange mode of payment.
However, on seeing the man’s determination and the belief he had on the special cause, they agreed to go ahead. The man who took a bucket-load of coins to the Dharampuri car dealership was identified as Vetrivel, an Arur resident.
According to Vetrivel, his mother runs a shop where several customers have in the past turned down change in the form of coins. He has the same complaint with banks and other institutions who refuse to accept coins citing lack of people to count the coins.
“When RBI has not said that the coins are worthless, why aren’t banks accepting them? Even if we complain, no action is taken,” he was quoted explaining in an India Today report. Annoyed by the disregard by both public and financial institutions, Vetrivel decided to take a bold step in creating a conversation around the matter.
To raise awareness about the matter, Vetrivel decided to buy a car with nothing but metallic coins.
The Facts of the Matter
There was a time when people carried changes in the form of coin and shops, outlets, and other institutions had no problem in accepting the same from their customers. Somehow, in the past decade or so, people started shifting towards chocolates, chewing gums, and mints in the place of metallic coins change.
Declining Interest in Coins
While the Indian reserve bank continues to spearhead and raise awareness on the importance of metallic coins, even banks these days get annoyed when a customer comes with multiple huge buckets of coins as a deposit.
To create a conversation about the matter, a man in Tamil Nadu recently took a bold step.
Man Decides to Raise Awareness
At a car dealership in Dharampuri, jaws of the staffers dropped seeing a man walk in the dealership with hundreds of thousands of coins. Mr. Vetrivel was at the dealership to buy an all new Maruti Suzuki Eecho, and his mode of payment was – coins!
The staffers at the car dealership were skeptical and hesitant to approve the man’s mode of payment and go through with the deal. However, when they heard Mr. Vetrivel’s cause, they went ahead with the transactions.
What Inspired Mr. Vetrivel to Buy Car with Coins?
The Arur resident told media that his mother ran a shop for years and continues to come through situations where customers refuse to take change in the form of coins. This has led to huge heap of Rs. 10 coins at his home.
To create an awareness about the collective disregard of people and financial institution about the importance of coins, Mr. Vetrivel spent months collecting coins worth Rs.6 lakhs and buy the car.
“No action is taken”
“My mother runs a shop and the coins are at home only. No one is ready to accept the coins. Even in banks, they are not ready to accept claiming that there are not many people to count them. When the RBI has not said that the coins are worthless, why aren’t banks accepting them? Even if we complain, no action is taken”, Vetrivel was quoted in an India Today report.
Similar Purchases Made Recently This Year
It should be noted that earlier this year, a youth in Tamil Nadu bought his dream motorcycle worth Rs. 2.6 lakhs with coins. The youth, V. Boopathi, paid Rs. 2.6 lakh rupees at a showroom in Rs. 1 coins to get his hands on his new bike. It took as many as three hours for the showroom staffers to count the coins.
Similarly, a man in Assam brought a two-wheeler bought a scooty with multiple buckets filled with coins. The man reportedly saved for nearly seven-to-eight months to have as many coins as he needed to make the purchase.