The Reserve Bank Of India (RBI) has reported that currency in circulation contracted by 0.3% on the week to stand at Rs 27.70 lakh crore as on January 1, 2021. The central bank stated further that the overall reserve money rose by 0.2% on the week to Rs 33.22 lakh crore. Currency in circulation rose around 22.1% on a year ago basis compared to 11.8% growth at the same time last year. In the current fiscal, the currency in circulation has expanded by 13.2% so far while the reserve money has increased by 9.7%.
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