India's cash withdrawals jump 12%, highest since 2017 demonetization
Source ↗
👁 0
💬 0
India is witnessing a major shift in its cash economy as currency in circulation (CIC) has increased by over ₹61,000 crore in the first half of April.
The total CIC now stands at a record ₹42.3 lakh crore. This spike is 11.8% higher than last year and the highest since early 2017 after demonetization.
The trend could affect liquidity in the banking system, economists have warned.
The total CIC now stands at a record ₹42.3 lakh crore. This spike is 11.8% higher than last year and the highest since early 2017 after demonetization.
The trend could affect liquidity in the banking system, economists have warned.
Comments (0)