Demand for cash this festive season prevails over economic slowdown

The economic slowdown has not dented festive season demand for cash. In the two weeks leading to Dussehra, currency in circulation witnessed a spurt, as it normally does during this time of the year. The demand for currencies rose in the eastern India, where Durga Puja is a major festival. However, the highest demand is likely to be generated during Diwali (October 27). 

In the previous years, the festival has seen a strong demand for cash and other forms of currencies. The currency in circulation largely consists of cash with public and current and savings account deposits with banks (but