Regarding the 100 and 200 rupee notes, the reserve bank of india (RBI) has made a significant announcement.  Actually, new 100 and 200-note designs won't be altered when the reserve bank of india issues them shortly. governor Sanjay Malhotra will sign these new notes, the RBI has said.  This is a standard procedure whereby notes with each new governor's signature are issued following his appointment.

Will the old notes go out of circulation?

Not at all! The RBI has made it clear that the old 100 and 200 notes will not be altered and will continue to be in circulation. According to the RBI, banks and ATMs will soon carry these notes. Now let's find out where cash is most commonly used. Additionally, we shall learn about India's cash flow following the ban on 2000 notes.

How much cash is being used in India

The research claims that even with the restriction on 2,000 notes, the amount of currency in circulation has risen more than previously.  As you can see from the RBI's figures, the cash circulation grew from 13.35 lakh crores in march 2017 to 35.15 lakh crores in march 2024.  In addition, UPI-facilitated wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital transactions are growing quickly.  In march 2020, there were 2.06 lakh crores of UPI transactions; by february 2024, that number had risen to 18.07 lakh crores.  However, if we include 2024 as a whole, there have been around 172 billion wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital transactions this year.

Which states have the highest ATM withdrawal rates?

 Reports indicate that the states with the highest ATM withdrawal rates in FY'24 were Delhi, tamil Nadu, Uttar Pradesh, West Bengal, and Karnataka.  In fact, during elections and festivals, there is a greater need for cash.  In addition, people in rural areas utilize cash more frequently since digital payments are not as widely available there.


 
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SIBY JEYYA

13/03/2025 08:39 AM