Cash still hot as a medium of exchange
Currency circulation in India as a percentage of GDP is 12%, versus Japan's high of 20%
 "Cash still hot as a medium of exchange")
India’s cash transaction value as a percentage of total transactions is pretty high at 68 per cent. Indonesia, also an emerging market, sees 69 per cent transactions in cash. Currency circulation in India as a percentage of GDP is 12 per cent, versus Japan’s high of 20 per cent.