A report by State Bank of India (SBI) has claimed that cash withdrawals rose sharply the second half of 2017-18. When we look at the data posted by the Reserve Bank of India (RBI), some interesting patterns emerge in terms of cash withdrawals from ATMs. Firstly, if we look at the number of cash withdrawals from ATMs per month, we see that the number of withdrawals is still lower than what it used to be prior to demonetization in November 2016. Instead, after demonetization, people are withdrawing larger amounts from each ATM visits. In fact, in October and December last year, the total amount of cash withdrawn from ATMs was back at the level dictated by the pre-demonetization trend.

Source: Mint April 24, 2018 03:00 UTC