Mumbai: In the year ended May 2, the currency increased by 2.40 percent, compared to 1.70 percent in the end of May 2 last year. Despite the absence of elections, the use of cash remains strong. The demand for cash during elections is usually high.
At the end of May 2, the currency in the country was Rs 38.10 lakh crore, which is equivalent to 11.50 percent of the country’s GDP.
The Reserve Bank data shows that the current figure is half percent lower than the demonetisation figure in November 2016.
An analyst had estimated that the growth of currency in circulation was due to an increase in rural demand due to strong production in the Rabi and Kharif season. According to the information received, a recent report said that bank account holders in the country withdrew an average of Rs 1.30 crore per ATM per ATM in the financial year ended in 2025.
Dependence on imported coal decreased, notable savings of foreign currency to the nation
