Cash in circulation rises 11% to record Rs 40 lakh crore
📌 Key Takeaways
- {"type":"skipped","reason":"older_than_3_days"}
📖 Full Retelling
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.
Entity Intersection Graph
No entity connections available yet for this article.
Original Source
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.
Read full article at source