“The coin is also used for commuting and remains prevalent, particularly in rural parts of India,” he said.Karthick Jonagadla, smallcase manager and MD & CEO of Quantace Research, said UPI has significantly reduced the need for cash in many parts of India, especially in cities and for routine payments. However, it has not eliminated the need for coins.“The Re 1 coin survives because it solves a very basic problem: how to settle the last rupee in small cash transactions. In kirana stores, buses, roadside vendors, rural markets and informal services, cash is still common and exact change still matters,” he said.
