September 19, 2024 9:53 PM

Despite being leader in digital transactions, cash circulation increasing substantially in India

Despite India being a leader in digital financial transactions, cash currency in circulation has more than doubled over the last eight years. As per Reserve Bank of India (RBI) data, since the demonetization of Rs 1000 and Rs 500 notes in 2016, the currency in circulation has increased substantially in India. The cash in circulation in value terms has shot up over 100 per cent, and stood at Rs 34.70 lakh crore, as of September 6, 2024, RBI data showed. Just before the demonetization, it was at ...