Subrata Sarkar, a trader in West Bengal’s Nadia district, started saving ₹2 coins in November 2016 in view of the cash crunch following demonetisation of ₹500 and ₹1,000 banknotes. Over the next six years, he saved coins worth ₹1.8 lakh in two sacks and used the savings to buy a motorbike.
“When the demonetisation was announced, there was a shortage of currency notes of higher denominations. Coins were in abundance and most of my clients used to pay me using notes of lower denominations and coins packed in polythene packets,” said Sarkar, 46, who supplies bidis he manufactures to local shops in Nadia.
“Every day I would save some of the money from the payments I got from clients. My idea was to utilise the money to buy something after a few years. Last month, when I was passing by a two-wheeler showroom, I wondered why cannot I buy a bike?”
He shared the idea with his 17-year-old son, Sekhar, a student, and soon started counting the coins. Sarkar also contacted the showroom owner, who agreed to take the payment in coins. His family counted the savings and arranged them in five bags each containing ₹10,000. “…I hired a rickshaw and sent five bags and two sacks to the showroom to buy the bike.”
On Tuesday, Sarkar bought the bike as the showroom employees took almost three days to count the money. “We handed over the keys on Tuesday. Five employees counted the coins. The counting was completed on Friday. He paid around ₹1.5 lakh in coins,” said Prabir Biswas, the showroom manager.