Cash circulation in the economy has risen nearly 20 percent since demonetization, reported The Indian Express.
According to the report, even though the government and the RBI are pushing towards a cashless society, the volume of currency in the system is on the rise.
Currency in circulation (CIC) has jumped by 19.14 percent to a record high of Rs 21.41 lakh crore as on March 15, 2019 when compared to Rs 17.97 lakh crore on November 4, 2016, the report said citing the latest data available from the RBI.
The report added that in the last one year, CIC has increased by over Rs 3 lakh crore despite rising digital transactions during the period.
First Published: Mar 22, 2019 9:38 AM IST
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