Reserve Money Contracts 1.1% On Week

The Reserve Bank Of India (RBI) has reported that currency in circulation moved up by 1% on the week to stand at Rs 30 lakh crore as on January 7, 2021. The central bank stated further that the overall reserve money contracted by 1.1% on the week to Rs 37.60 lakh crore. Currency in circulation moved up 7.8% on a year ago basis compared to 21.80% growth at the same time last year. In the current fiscal, the currency in circulation has gone up by 5.7% so far while the reserve money has gained by 4.4%.

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