Coupon system addresses coin shortage in Mangaluru

MANGALURU: The dearth of lower denomination coins in circulation may bother

shopkeepers

in the rest of the country, but not in Mangaluru. This is thanks to a coupon system that shopkeepers here have evolved as an alternative. The system works on the basis of mutual trust between various shops in the city.

“There are several shops in the city that follow the coupon system. It works on the basis of mutual understanding. We issue

coupons

for Re 1, Rs 2 and Rs 5 denomination coins, when we run out of coins. Other shops accept our coupons and we accept theirs,” said

Bhoja Poojary

of

Sai Milk Parlour

in Yeyyadi here.

Ranadhir, owner of Vardhaman Hotel, Yeyyadi, in the city, said they do it only for regular customers. “Since we know who our regular customers are, we issue them coupons. They can either return us or pay with the coupons on subsequent visits, or trade them for commodities in other stores, with whom we have an understanding,”

Ranadhir

said. He said as of now, Rs 5 coins are in shortage, but a few years back even smaller denomination coins were hard to come by. He sources coins from local temples, without paying any commission.

Vikram, a customer, said he is used to the coupon system that is in practice for at least a couple of years, and that he hasn’t encountered any difficulty while following it. “In fact, the coupons serve as a symbol of trust, and increases friendship between a customer and a shopkeeper. It gives shopkeepers an impression that the customer is in good terms with the vendor,” he said.

The system is not restricted to grocery stores but is also in circulation in liquor shops. “Sometimes, our regular customers fight for

chillar

(change) when they get tipsy and walk out. We issue them coupons, which immediately brings a smile to their face. It is a good feeling,” a bar owner, who did not wish to cite his name, said.