Are top banks getting their economics wrong?
A mere statement from the RBI assuring that “robust systems” exist isn’t enough
cash in circulation
June 2023
May 2023
December 2022
November 2022
December 2021
Cash withdrawals at ATMs rise 235% since demonetisation
Cash withdrawal using debit cards at ATMs stood at ₹2.86 lakh crore in March 2023.
Demonetisation: Cash Is Not King
Expansion of absolute cash in circulation has to be seen holistically with growth in GDP and uptick in digital transactions.
Currency in circulation falls during Diwali for first time in 2 decades: SBI
With the increased acceptance of digital payments in the country, the over reliance on cash is slowly fading away.
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.
