MUMBAI: Currency in circulation is almost at pre-demonentisation levels at 99.17 percent. It has taken fifteen months for the currency in circulation to get back to the levels of November 04, 2016, the last week end before Prime Minister Narendra Modi banned Rs 500 and Rs 1000 notes which constituted close to Rs 8 lakh crore.Total currency in circulation is at Rs 17,82 lakh crore as of February 23, according to the latest Reserve Bank of India data. But since January’18, currency in circulation has picked up sharply by around Rs 89,000 crore, while growth in various types of digital transactions has slowed down. Currency in circulation often surges at times of big elections. But his time round economists are not too sure and some attribute to rise in cash to revival of economic activity.

Source: Economic Times February 28, 2018 14:39 UTC