Cash in circulation rises, hindering Modi govt’s digital economy push

Cash in circulation rises, hindering Modi govt’s digital economy push

Ratio of currency in circulation to GDP has risen to 11.23 per cent as of March 2019, putting question mark over demonetisation aim.
Current Affairs:India’s reliance on money may ease back the nation’s change to advanced installments regardless of enormous quantities of web and cell phone clients.
For some, residents living in rustic zones, money is as yet the bedrock of every day presence as a result of an absence of offices.
Sudhir Shinde, a rancher in Satara locale in Maharashtra, says he pulls back more cash from his bank than required as the cash candy machine in his town has not been operational for a considerable length of time.
“In the event that I need cash critically, I should make a 32 kilometer excursion to Satara town, which isn’t constantly conceivable,” said the 37-year-old sugarcane rancher Shinde, while purchasing composts for his winter-planted harvests.
“I generally keep cash close by expecting family crises like hospitalization or some other such earnest prerequisites”.
Leader Narendra Modi supported a stun managing in November 2016 to prohibit 86 percent of money available for use to target undeclared “dark cash” and battle defilement.

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