People kept more cash on hand as a precaution during the Corona period ઃ RBI

(PTI) Mumbai, Ta. 27

The fiscal year 2020-21 has seen an increase in the circulation of currency notes due to the trend of keeping more cash in hand as a precautionary measure in the Corona epidemic. In the financial year 2020-21, the value of currency notes in circulation has increased by 12.5 per cent and the proportion has increased by 4.5 per cent.

In the financial year 2015-16, the value of currency notes has increased by 12.5 per cent and the proportion has increased by 7.5 per cent. It may be mentioned that in terms of value, the contribution of Rs 500 and Rs 2,000 notes in circulation as on March 31, 2021 was 4.5 per cent. As on March 31, 2020, it was 4.5 percent.

Among the currency notes in circulation in the market, Rs 500 notes accounted for the highest in terms of volume at 51.1 per cent. Then there is the 2.5 per cent ratio of 10 rupee notes.

According to the RBI, Rs 5, 6, 10, 20, 20, 100, 200, 500 and 2000 rupees are in circulation at present. Rupee coins are in circulation.