[BANDHAV]

Originally Posted by Bh.P

The article does not mention why he decided to pay for it in coins. Maybe he thought he would like to match the weight of the vehicle with the coin payment.
!

I heard this buyer's interview on one of the Radio Channel. The basic idea behind his move was to increase the awareness about acceptability of coins. Numerous small establishments refuse taking payment in coins. He himself runs some kind of retail shop.

It could be an after thought but still better then useless stunts Youtubers do.

[aceplaybill]

Here's video of Kerala based vlogger Karthik Surya as he buys his One lakh rupee iPhone using only one rupee coins.

https://youtu.be/izSRbqkh8IA

He did as part of promoting his channel and got a lot of attention.

[giri1.8]

It's weird that there is no reason mentioned for his payment method! Weight of these coins would have been close to the wight of the bike if he had used 1 and 2 rupee coins Math experts pitch in your calculations.

[silverado]

Question is : Did he have these coins with him all the time, or he went to bank to get these coins and then pay dealership?

My guess is he got these coins from bank and did this as some stunt.
What a waste of time, and no gain. I don't think this even deserves a thread, but we are at page 2 already and I have replied as well

[biller777]

There is a market for coins in India. Retail shops like the kirana shops around the corner, need change (coins) to conduct their daily business. It is difficult to get coins from the banks. Hence, many of them buy coins from certain dealers at a premium. The Activa agency could actually pass the coins on to the dealers and make some extra money!!!

[lrsays]

What a coincidence, I had a friend with same name who paid school fees using 1 and 2 rupee coins. Office of school didn't even count it and issued receipt .

[amods]

Originally Posted by prateekm

Am I the only one who's more bewildered about the fact that an Activa now costs 83k than someone paying the amount in coins?

In Bangalore, it is 91k, 95k and 1.03L right now for the BS6 version of Activa. BSIV are in range of 72K - 90K.

For now, I have dropped the plan

[AtheK]

Originally Posted by lrsays

What a coincidence, I had a friend with same name who paid school fees using 1 and 2 rupee coins. Office of school didn't even count it and issued receipt .

but maybe time to cross check if both are the same people

[Motard_Blr]

Coins, unlike notes, are limited legal tender. This means that payments in coins are limited by the Coinage act 2011.

One rupee coins can be used to pay up to ₹1000. This means that for any sum over ₹1000, the payee can refuse to accept payments in ₹1 coins. This makes sense since handling large quantities of coins is difficult and expensive.

So this guy buying a Honda Activa is just a publicity stunt.

Coinage act: https://rbidocs.rbi.org.in/rdocs/Pub...COIN281114.pdf

[lrsays]

Originally Posted by AtheK

but maybe time to cross check if both are the same people

That was the first though that came to my mind after seeing this post, unfortunately they are not same.

[girimajiananth]

Why all the fuss ? All electronic weighing machines have a feature called component counting. Just use that mode and convert the weight into number of pieces of coins.

For example, assume one 5 rupee coin weighs 100 grams, simply weigh it and get the number of coins in the bag.

[deehunk]

He could have converted the 83K coins to about 95K by exchange for cash. It would have been more sensible decision.

[Torq]

Originally Posted by procrastinator

So that people like us can watch and comment.
Publicity sir!

your handle and your comment go hand-in-hand kind sir!

I wonder why the showroom guys even accepted payment in coins?
These days we do hear a lot of stories about "cash nahi chalega, swipe machine nahi chal raha, neft karo etc."

[ashwinprakas]

Originally Posted by Motard_Blr

Coins, unlike notes, are limited legal tender. This means that payments in coins are limited by the Coinage act 2011.

One rupee coins can be used to pay up to ₹1000. This means that for any sum over ₹1000, the payee can refuse to accept payments in ₹1 coins. This makes sense since handling large quantities of coins is difficult and expensive.

So this guy buying a Honda Activa is just a publicity stunt.

Coinage act: https://rbidocs.rbi.org.in/rdocs/Pub...COIN281114.pdf

Spot on, the same was discussed during an Economics lecture I managed to attend today, came here to post what I gathered and I see your post.

Cheers,
A.P.

[itisravi]

Originally Posted by BANDHAV

Numerous small establishments refuse taking payment in coins

We faced this issue at one of the toll booths on AH45 while driving from Bangalore to Chennai a few days back. I paid the toll of Rs.45 in 10 and 5 rupee coins and the lady at the counter initially refused to accept it. When I told that these coins were given as change in the previous toll booths, she said we shouldn't have accepted the coins! Of course, she eventually had to issue the pass as it would have been illegal to not accept it given the total amount and the coin denomination but the whole argument was a mood spoiler and totally uncalled for.