Overview
- A buyer identified as Konde Raghupathi paid ₹1.10 lakh for a Hero Splendor Plus using only ₹10 coins that were brought to Sri Vinayaka Motors in Chityala.
- Showroom staff counted the piles of coins by hand, verified the total and handed over a symbolic key before releasing the bike to the buyer.
- India’s Coinage Act and Reserve Bank guidance say coins of ₹1 and above are legal tender only up to ₹1,000 in a single transaction but do not bar sellers from voluntarily accepting larger coin payments.
- The video of the transaction went viral and joined earlier, similar cases in India where people used long-term coin savings to buy vehicles, showing a recurring pattern.
- Practical effects include large time and labor costs for dealers who must verify bulk coin payments and the chance that such public cases will prompt wider public discussion about shop-level practices for accepting coins.