Tattered Tk 10 and Tk 20 notes become a source of disputes

“Give me another note if you have one. Otherwise, get off the bus,” said Mohammad Shahabuddin, a bus helper, to a passenger. An argument broke out immediately afterward. It started over a Tk 10 note that the passenger had handed over as bus fare. Shahabuddin refused to accept it because the note was torn and could no longer be used.

Shahabuddin argued, “If I give you this torn note, you won’t accept it either.”

This incident took place on a bus operating on Route 8 in the capital three days ago. Such arguments have now become a daily occurrence on buses, mainly over Tk 10 and Tk 20 notes. These denominations are used more frequently and have consequently become more worn out. As a result, neither passengers nor transport workers want to accept them.

Jonaid Ahmed, an employee of a private company, also spoke about the problems caused by these notes. He said people are often compelled to accept them because most of the notes of these denominations in circulation are in similarly poor condition.

“In terms of their condition, it seems nobody would accept these Tk 10 and Tk 20 notes. Once you accept one, you start worrying about whom you will be able to give it to next,” he said.

Asked whether he had ever faced arguments over damaged notes, Jonaid said, “I often get into arguments with bus helpers on local buses. It is not just me. Other passengers also frequently face similar problems.”

Transport worker Shahabuddin also said arguments with passengers over fares occur regularly.

“I have no problem accepting torn notes. But if I give one to another passenger, they refuse to accept it. If I go to a shop to buy something, the shopkeeper refuses to take it too. If everyone accepted these notes, I would accept them as well,” he said.

The problem is not limited to buses. Grocery shops are facing the same issue. Shopkeepers said the condition of Tk 10 and Tk 20 notes has deteriorated significantly.

Grocery shopkeeper Billal Hossain said, “These two denominations have become worse than pieces of paper. If I receive 100 Tk 10 notes in a day, 95 of them are torn. The remaining five are not necessarily in good condition either.”

“If I refuse to accept them from customers, they accuse me of being the one who gave them those damaged notes. In that situation, I have no choice but to accept them.”

However, Billal faces the same problem when he tries to use those notes.

“We accept them, but when we give them to another customer, they refuse to take them,” he said.

Asked what he does with the damaged notes, he said, “I give them to representatives of the companies from which I purchase goods. If they also refuse to accept them, I collect a large number of notes and go to Gulistan. I exchange them for other notes there.”

New banknotes are traded in Dhaka’s Gulistan and Motijheel areas. However, damaged notes can also be exchanged at banks. Bangladesh Bank has issued instructions to this effect.

There have been complaints that people often fail to receive this service when they visit banks. Many also avoid going to banks because of the crowds. Moreover, many people are unaware that damaged notes can be exchanged at banks.

Jonaid Ahmed believes that increasing the supply of new banknotes from Bangladesh Bank could help end this inconvenience.

He said, “The government should print new money and release it into the market quickly, especially Tk 10 and Tk 20 notes. If the situation continues like this, there may soon be no good Tk 10 or Tk 20 notes left in circulation.”

Will Bangladesh Bank take such steps?

Asked about the matter, Bangladesh Bank spokesperson Arif Hossain Khan said, “We have started printing Tk 20 notes. We will also begin printing Tk 10 notes within the next few days.”