Search For "currency in circulation"
Despite surge in digital payments, paper money circulation at record level
Updated : 2 months, 3 weeks ago IST
Cash use in India remains strong and currency in circulation has reached a record high despite the rapid rise in digital payments, mainly due to higher consumption, lower interest rates, and the replacement of Rs 2000 notes, according to a report by State Bank of India (SBI).
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Despite being leader in digital transactions, cash circulation increasing
Updated : 1 year, 8 months ago IST
Despite India being a leader in digital financial transactions, cash currency in circulation has more than doubled over the last eight years. As per Reserve Bank of India (RBI) data, since the demonetization of Rs 1000 and Rs 500 notes in 2016, the currency in circulation has increased su
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Ex-Chief Economic Advisor tweets why decision to withdraw Rs 2,000 currenc
Updated : 3 years ago IST
According to him, his first reason was that: "The Rs 2000 notes are not being used much as a medium of exchange. In fact, they currently constitute only 10.8 per cent of Currency In Circulation (CiC)."
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Cash in circulation has increased as economy grew in past six years: Exper
Updated : 3 years, 5 months ago IST
According to Reserve Bank of India (RBI) data, six years after the move to ban Rs 500 and Rs 1000 notes, currency in circulation increased by 83 per cent and the value of the currency in circulation as on December 23, 2022, stood at Rs 32.42 lakh crore.
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Demonetisation affected everyone, Chidambaram tells SC
Updated : 3 years, 6 months ago IST
He also pointed out that at the time of demonetisation the currency in circulation was Rs 17.9 lakh crore and today, according to RBI, it is 32.18 lakh crore and actually the currency in circulation has increased.
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Currency in circulation declines in Diwali week for first time in 20 years
Updated : 3 years, 7 months ago IST
The report said, "In a remarkable development, for the first time in 20 years, currency in circulation declined during the Diwali week. The innovations in technology have changed the Indian payment system. Over the years, the Indian cash lead economy now has changed to smart-phone lead payme
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Jump in digital significantly slowed down growth of currency in circulatio
Updated : 3 years, 7 months ago IST
Ghosh said as percentage of gross domestic product (GDP), CIC was now at 11.8 per cent, less than 12.1 per cent in FY16 and significantly lower than the nominal GDP growth. He also added that it is an absurdity in quoting absolute numbers of currency in circulation (CIC) then and now.
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First in 20 years, currency in circulation declines in busy Diwali week: S
Updated : 3 years, 7 months ago IST
Innovations in technology have changed the Indian payment system over the years and the Indian cash-led economy now has changed to a smartphone-led payment economy.
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Cash crunch could be superficial, says SBI
Updated : 8 years, 1 month ago IST
New Delhi [India], Apr. 20 (ANI): The State Bank of India (SBI) on Thursday said that the current and sudden surge in Currency in Circulation (CIC) could be superficial.
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ToneTag's RetailPod looks to empower merchants, revolutionize digital paym
Updated : 8 years, 3 months ago IST
New Delhi [India], Mar 6 (ANI): As RBI data reveals that currency in circulation is almost at pre-demonetisation levels, ToneTag - a sound-based proximity communications and payment services provider - has been promoting Digital India with its products.
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