
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.
Expansion of absolute cash in circulation has to be seen holistically with growth in GDP and uptick in digital transactions.
With the increased acceptance of digital payments in the country, the over reliance on cash is slowly fading away.
Cash in circulation, which was 10.7% of GDP in FY18 has risen to 14.5% in FY21.