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India’s coin presses fall silent as UPI drains cash wallets away
Economy
Published on 24 April 2026
Coin mints face overstaffing and no clear withdrawal plan
As UPI and digital wallets grow fast, India’s coin presses are reportedly slowing and going underused. The shift is leaving the currency system in limbo, with overlapping coin denominations and an unclear withdrawal policy. With cash demand weakening, mints that once ran steadily now struggle to stay relevant amid a digital payment surge.
- UPI and wallets are cutting demand for coins and cash
- Coin mints are reportedly overstaffed and increasingly idle
- Overlapping denominations and no withdrawal policy add confusion
- A digital payment boom is pushing cash further to the margins
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times