Cash with public at 98% of pre-note ban levels, says RBI

The currency with the public (CwP), a component of money supply, has returned to the pre-demonetisation levels of 98 per cent, the Reserve Bank of India (RBI) data reveals.

The data for the week ended February 2 showed the CwP rose to Rs 16.68 trillion from Rs 17.012 trillion, seen during the week before the government’s November 8, 2016, announcement of withdrawing 87 per cent of the currency in circulation.

The CwP, on a year-on-year basis, was up 69.9 per cent or Rs 6,864.8 billion at the end of the first week of February.  The CwP is the public demand for cash