Buying a prized possession as desirable as a car requires years of hard work and patience for many middle-class people in a country like India. Buying a new or even used car has become much easier than before due to several finance and loan facilities by banks and small finance organizations. However, a man from Tamil Nadu opted for a rather unique approach for buying a new car – depositing the entire amount of the car in the form of Rs 10 coins.
The said incident is reported from Tamil Nadu, where a man named Vetrivel bought a brand new Maruti Suzuki Eeco from an authorized dealership of Maruti Suzuki with a sack full of Rs 10 coins, which amounted to Rs 6 lakh in total. Vetrivel said that his mother runs a grocery shop, from where he collected these Rs 10 coins while getting money exchanges from his customers.
Paid by coins out of frustration
Vetrivel took this step of buying a new car using Rs 10 coins out of an unheard frustration, which is true in many corners of India, especially in the rural belts. Vetrivel said that on many occasions, his customers refuse to accept Rs 10 coins or any other coins for that matter, and instead prefer paper cash notes. Verivel faces this situation daily, and in this gradual process, he acquired some 60,000 coins of Rs 10 in a month.
Vetrivel even went to the Reserve Bank of India office, where he was refused to be paid paper notes or electronic transfer of money in his account in exchange for these coins. He said that the bank officials refused to accept these coins, stating the reason that no one in the bank has enough time to count and calculate the amount of these coins. This statement by bank officials baffled Vetrivel, as there is no official guideline issued by the Reserve Bank of India to not accept and count coins of any individual.
Due to the amounting frustration of not being able to use these coins in exchange with his customers and banks, Vetrivel decided to utilize these coins worth Rs 6 lakh to buy a new car. He headed to the Maruti Suzuki showroom in his hometown of Dharmapuri, where he requested to buy a new Eeco in exchange for these 60,000 coins of Rs 10. While the officials at the dealership were reluctant to proceed with the deal in exchange for these coins, the dealership manager finally agreed to go ahead after seeing the firm determination of Vetrivel.
Before the delivery, Vetrivel and his family members came with sacks of these coins and gave them to the showroom officials, who counted every single coin. Post the process of counting, Vetrivel was handed over the keys to a brand new grey-coloured Maruti Suzuki Eeco.