Cash in circulation (CIC) in the Indian economy has risen sharply since demonetisation. CIC, which was 10.7% of GDP in FY18 has risen to 14.5% in FY21. Five years after demonetisation, most fintechs remain loss-making and must spend millions more to acquire customers and merchants. But cash—anonymous, convenient and handy—is still preferred by the average Indian.
Top Stories
Macro
Indians refuse to let go of cash
Cash in circulation, which was 10.7% of GDP in FY18 has risen to 14.5% in FY21.
More FromMacro
‘Week after June 4…’: PM Modi predicts market ‘action’ post Lok Sabha Elections 2024 results
PM Modi says he wants every citizen to have at least a little risk-taking capacity, which is essential
Gopi Thotakura makes history as India's first space tourist
Thotakura, originally from Andhra Pradesh, learned to fly before he could drive, co-founded Preserve Life Corp, a wellness centre near Atlanta's Hartsfield-Jackson airport
Fresh US duties on Chinese solar import to trigger India's ascent as global supplier
While India will be a major beneficiary in the solar equipment-making sector, India is unlikely to gain much from the other sanctioned sectors
99% mobiles sold in India are 'Made in India': FM on govt's PLI push
The fundamental basis for consistent, steady and high growth in India is “policy stability”, says Sitharaman
More FromMacro
‘Week after June 4…’: PM Modi predicts market ‘action’ post Lok Sabha Elections 2024 results
PM Modi says he wants every citizen to have at least a little risk-taking capacity, which is essential
Gopi Thotakura makes history as India's first space tourist
Thotakura, originally from Andhra Pradesh, learned to fly before he could drive, co-founded Preserve Life Corp, a wellness centre near Atlanta's Hartsfield-Jackson airport
Fresh US duties on Chinese solar import to trigger India's ascent as global supplier
While India will be a major beneficiary in the solar equipment-making sector, India is unlikely to gain much from the other sanctioned sectors
99% mobiles sold in India are 'Made in India': FM on govt's PLI push
The fundamental basis for consistent, steady and high growth in India is “policy stability”, says Sitharaman
Leave a Comment
Your email address will not be published. Required field are marked*