Currency in circulation growth falls to 4.3% from 7.7%: RBI
Shortpedia
Content Team
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RBI has observed a decrease in the growth of currency in circulation (CIC), falling to 4.3% from 7.7% last year, due to the removal of Rs. 2,000 denomination banknotes. According to the RBI bulletin, a monthly publication that offers insights into local and international economic trends, the money supply (M3) experienced an 11% on-year growth as of November 3, compared to 7.8% the previous year, excluding the impact of the HDFC and HDFC Bank merger.
