Cash With Public At Record High Of INR 30.88 Lakh Crore According to reports, at INR 30.88 lakh crore, the currency with the public is 71.84 per cent higher than the level for the fortnight ended November 4, 2016

By Teena Jose

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.


Currency with public has reportedly jumped to a new high of INR 30.88 lakh crore as of October 21, signifies that cash usage is still robust even six years after the demonetization move. According to reports, at INR 30.88 lakh crore, the currency with the public is 71.84 per cent higher than the level for the fortnight ended November 4, 2016.

As per the fortnightly data on money supply released by the RBI on Friday, the currency with the public increased to INR 30.88 lakh crore as on October 21. The central bank for data Reserve Money had put the currency in circulation at INR 17.7 lakh crore on November 4, 2016.

Currency with public means the notes and coins used by people to transact, settle trades, and for buying goods and services. Cash usage has been steadily rising in the economy, even as newer and far convenient digital alternatives of payments have become popular. The Covid-19 pandemic, which laid an emphasis on contactless transactions, also gave a fillip to such digital modes.

A 2019 RBI study on digital payments had partly addressed the issue. "Although digital payments have been growing gradually in recent years, both in value and volume terms across countries, data also suggests that during the same time, currency in circulation to GDP ratio has also increased in consonance with the overall economic growth," it had said.

Teena Jose

News Desk Reporter with Entrepreneur India

Teena is a post graduate in financial journalism. She has an avid interest in content creation, digital media and fashion.

Related Topics

Growing a Business

What is The Future of Coworking Spaces in a Hybrid World? Here's Everything You Need to Know.

The traditional office, once a symbol of corporate stability and structure, is rapidly becoming an anachronism in today's fluid work environment, and coworking spaces are replacing many of the traditional office space functions

Business News

'Not Much Financial Education' — Yet Millennials Have Boomers and Gen X Beat When It Comes to Retirement Savings. Here's Why.

Millennials might own fewer homes and make less money — but they're on track for a better retirement.

Growing a Business

This Language Learning App has 25 Languages, and it's Only $160

Expand your opportunities by learning how to communicate with potential customers and business partners in their native language.


9 Success Habits of Wealthy People That Cost Nothing

Money isn't everything but lack of money is a lame excuse for a lot things.


The Content Conqueror

With a vision of #OneTeamOneDream, Contentstack has its priorities sorted. Content, omnichannel experiences, personalization, and speed are keys to modern marketing

Business News

JPMorgan CEO Jamie Dimon Says AI 'Is Real' and Will Eliminate the 5-Day Work Week. Here's How His Company's Going All In.

The financial services firm advertised for thousands of AI-related roles earlier this year.