22% increase in circulation of currency notes in 2020

(PTI) New Delhi, Ta. Thursday, January 7, 2020

Despite the decline in the country's GDP, currency circulation in India has risen to a record Rs 5 lakh crore. According to sources, GDP is projected to decline by 7.5 per cent in the financial year 2020-21.

The currency-to-GDP ratio is expected to grow by 15 per cent, according to a report released by the RBI. According to data released by the RBI, currency circulation has increased by Rs 5,01,405 crore between January 1, 2020 and January 1, 2021.

Compared to last year, the circulation of currency notes has increased by 22 per cent to Rs 27,70,315 crore. According to a report, this is the largest increase in the circulation of currency notes since the ban. The report said that only three times in the last 50 years has the currency seen growth of more than 17 per cent in three to four consecutive years.