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LATEST NEWS UPDATES | 5 reasons why cash is back in the economy after 5 years of demonetisation -Anand Adhikari

5 reasons why cash is back in the economy after 5 years of demonetisation -Anand Adhikari

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published Published on Nov 8, 2021   modified Modified on Nov 11, 2021

-BusinessToday.in

Two years prior to demonetisation, the currency, as well as the nominal growth in the economy, was in the range of 10-12 per cent. But in the last two years, currency in circulation has grown by 14-16 per cent whereas the nominal GDP growth has been lower.

Five years after demonetisation, the cash in the system is back at a much higher level. The government had demonetised the high-value notes of Rs 500 and Rs 1,000 to formalise the economy and to tackle the counterfeit market. Despite the digitisation of payments in the last few years, the cash levels are at a record high level.

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BusinessToday.in, 8 November, 2021, https://www.businesstoday.in/top-story/story/5-reasons-why-cash-is-back-in-the-economy-after-5-years-of-demonetisation-311601-2021-11-08?fbclid=IwAR2-3EI5et9IlshSt_HfTNgbijCC-iIsspi-ozzmsvL80hmpHx4jAgYqvmY


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