India Currency in Circulation Hits Record 42.3 Trillion
India's currency in circulation rose 11.8% to a record 42.3 trillion rupees in early April. Economists warn sustained demand could tighten banking liquidity.
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India saw cash withdrawals surge by 610 billion rupees ($6.40 billion) during the first half of April, pushing total currency in circulation to 42.3 trillion rupees. This 11.8% year-on-year increase marks the highest spike in cash demand since the early 2017 post-demonetization period. Sustained cash usage threatens to drain banking system liquidity, potentially forcing the central bank to adjust its market intervention strategy.
