Five years after demonetisation, cash in circulation at near peak in 2021: Report
Shortpedia
Content Team
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The key component of an informal economy, cash in circulation (CIC) as a percentage of GDP, has continued to rise year after year, barring in the year of note ban in 2016 when it fell to 8.7 per cent, according to a report. According to the report by SBI Research, almost 80 per cent of the economy has been formalised in the past five years with every aspect of the non-cash component of the economy including agri credit, gaining traction.
