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Cash with public at record high, doubles post demonetisation figures

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Cash with public at record high, doubles post demonetisation figures

Jun 11, 2018 12:00 AM

The latest RBI data suggests that currency with public has reached as high as Rs 18.5 lakh crore, reported the Times of India.

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According the central bank data, post demonetisation, the numbers had hit the low of Rs 7.8 lakh crore.

While the total currency in circulation by the RBI currently is Rs 19.3 lakh crore, more than double of Rs 8.9 lakh crore recorded post-demonetisation, TOI reported on Monday.

Yet, the proportion remains weak in terms of percentage of GDP when compared to the pre-demonetisation scenario, said the report.

Currency with the public is calculated after deducting cash with banks from total currency in circulation.

News of cash crunch across the country had emerged few months ago after which the finance ministry had said that it was taking measures with the states to ensure adequate supply of notes.

While the banks had assured that they were constantly monitoring the situation and making immense efforts to ensure the supply of currency in abundance at all ATMs.

First Published:Jun 11, 2018 9:00 AM IST

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