Cash in circulation rises 11% to record Rs 40 lakh crore
Currency in circulation hit a record Rs 40 lakh crore, yet its share in the economy declined to 11.2% as digital payments surged. Despite increased absolute cash holdings, driven by tax enforcement and low interest rates, UPI transactions now dominate everyday economic activity, indicating cash's growing role as a store of value.
Currency in circulation hit a record Rs 40 lakh crore, yet its share in the economy declined to 11.2% as digital payments surged. Despite increased absolute cash holdings, driven by tax enforcement and low interest rates, UPI transactions now dominate everyday economic activity, indicating cash's growing role as a store of value. What's Your Reaction?
