RBI Finds Cash Demand Harder to Predict as Digital Payments Grow

India's Digital Payments Boom Fails to Dent Demand for ...

Mumbai: Cash In Circulation Has Not Declined Despite Rapid Growth In Digital Payments: RBI Deputy Governor Murmu

The ‘Cash Paradox’ makes future demand harder to predict: Shirish Chandra Murmu

RBI Deputy Governor Highlights 'Cash Paradox' Amid Digital Payment Surge

Reserve Bank Deputy Governor S C Murmu has highlighted the 'cash paradox' where currency in circulation continues to grow despite a significant increase in digital payments. This trend complicates the RBI's forecasting and planning for currency production and distribution, prompting the central bank to seek solutions and explore ways to extend banknote life and reduce the carbon footprint of the cash cycle.

Digital payments are booming, but RBI says cash demand is getting harder to predict

RBI deputy governor Shirish Chandra Murmu said currency in circulation continues to grow despite rapid digital payment adoption, complicating cash planning.

Despite digital surge, cash remains India's crucial payment mode: RBI's Murmu

RBI deputy governor Shirish Chandra Murmu said cash remains vital to India's economy despite the digital payments boom, citing a ‘cash paradox’ where currency in circulation keeps rising even as cash's transaction share falls. 

RBI finds cash demand harder to predict as digital payments grow

RBI faces challenges forecasting demand for banknotes as currency in circulation continues to grow at double-digit rates despite rising digital payments. Deputy Governor SC Murmu said cash remains widely used, particularly in rural areas, among low-income groups and small businesses.