20 tonnes of Lankan coins left in India

[Gibbs]

Efforts to bring back 20 tonnes of Lankan coins left in India
January 8, 2014 04:12 pm


Sri Lanka is trying to bring back an estimated 20 tonnes of Lankan coins put in the tills (hundials) of Buddhist and Hindu shrines in India by Lankan pilgrims.


“Negotiations are on to bring the coins back. Most of them are in Bodh Gaya,” said Nandalal Weerasinghe, deputy governor of the Central Bank of Sri Lanka (CBSL).


“Negotiations are on to bring the coins back,” Weerasinghe said. (ENS)

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[Capt.Popeye]

Efforts to bring back 20 tonnes of Lankan coins left in India
January 8, 2014 04:12 pm


Sri Lanka is trying to bring back an estimated 20 tonnes of Lankan coins put in the tills (hundials) of Buddhist and Hindu shrines in India by Lankan pilgrims.


“Negotiations are on to bring the coins back. Most of them are in Bodh Gaya,” said Nandalal Weerasinghe, deputy governor of the Central Bank of Sri Lanka (CBSL).


“Negotiations are on to bring the coins back,” Weerasinghe said. (ENS)

Why?
Is SL passing through an Economic Crisis?

 

[45'22']

Why?
Is SL passing through an Economic Crisis?

considering the average weight of a coin to be around 10 grams.......20 tonnes means around 20 lakh coins......if these are 5 rupees coins....then it will be around 1 cr rupees

ek crore rupaiyye se kya hoga inka

 

[Skyline]

lack of coins....so people are trying to ignore Rs 1, Rs 2 coins.........and Rs. 5
I have seen some shops give toffee or chewing gums ( value of Rs1 and 2) with the balance. lol

 

[INDIC]

Why do Sri Lanka want them back, the money don't belong to Sri Lankan government after donation.

 

[Skyline]

Why do Sri Lanka want them back, the money don't belong to Sri Lankan government after donation.

Those coins belong to temples mostly managed by Sri Lankan monks etc so if they can't change those to other currency then there must be some solution.

 

[Gibbs]

Why?
Is SL passing through an Economic Crisis?

There is a massive shortage of coins in circulation in the country

10-20 tonnes of Lankan coins in Indian temple tills | The Sundaytimes Sri Lanka

 

[45'22']

lack of coins....so people are trying to ignore Rs 1, Rs 2 coins.........and Rs. 5
I have seen some shops give toffee or chewing gums ( value of Rs1 and 2) with the balance. lol

this things happen everywhere..............
in India many prefer to collect those coins for fun which leads to its shortage in market.........

btw ur govt. can make new ones worth 1 cr

 

[Gibbs]

Why do Sri Lanka want them back, the money don't belong to Sri Lankan government after donation.

What has the SL govt have to do with anything ?? It's the central bank that's negotiating to get them back because of a massive short fall in circulation

 

[xTra]

Exchange them with INR....

 

[jarves]

Srilaka should pay with interests if it want coins.......
Or forget it......

 

[Rajaraja Chola]

We cannot obviously donate it. Moreover the permission of the temple is required. I think SL should pay equivalent amount in INR or dollars or in SLR notes.

 

[Capt.Popeye]

There is a massive shortage of coins in circulation in the country

10-20 tonnes of Lankan coins in Indian temple tills | The Sundaytimes Sri Lanka

Oh; thats no problem then. As it is the coins themselves are of no use to the Temples in whose "Hundis" that they were deposited in as offerings.
Unless the Temples decide to melt them down and turn them into some statues or something.
So the temples themselves will like to collect those coins and give them up for exchange into Indian Rupees and then use the funds for Temple upkeep etc. Eventually the coins will have find their way back to SL since no other country will have any use for them as 'Legal Tender'; least of all India.

 

[Established_1965]

Sri Lankan monks???? Do you have any reliable sources which say priests and monks in Indian Hindu and Buddhist temples are mostly Sri Lankans?

Aren't Buddhist and Hinduism from same lineage . In Singapore, I have seen many Buddhist going to Hindu temples to do worship especially during Chinese New year. Buddha is worshipped by both Hindus and Buddhist. Both believe in Karma and rebirth.

Moreover, Hinduism and Buddhism talks more about way of life then worshipping gods and prophets .

There is a massive shortage of coins in circulation in the country

10-20 tonnes of Lankan coins in Indian temple tills | The Sundaytimes Sri Lanka

It's not shortage my friend. It's because cost of making those coins are massive. To make a 5 cent coin in SG, it's cost government around 10-20 cent.

 

[JanjaWeed]

India can use this to settle their purchase invoice from SL, should there be any!