 "Consumer spending, cash, money")
The currency in circulation has fallen substantially as the economy opened up after the second wave of the pandemic moderated, with digital modes of payments gaining currency.
It is too early to say if people have overcome their fears leading to cash hoarding, but the trend, if it sustains, is encouraging.
The latest data released by the Reserve Bank of India (RBI) showed that the year-on-year growth in currency in circulation has fallen to 10 per cent as of August 13, against 22.4-per cent growth rate a year ago.
This is a steep fall, considering the economy
It is too early to say if people have overcome their fears leading to cash hoarding, but the trend, if it sustains, is encouraging.
The latest data released by the Reserve Bank of India (RBI) showed that the year-on-year growth in currency in circulation has fallen to 10 per cent as of August 13, against 22.4-per cent growth rate a year ago.
This is a steep fall, considering the economy
