Cash in circulation rises 11% to record Rs 40 lakh crore

[ad_1] MUMBAI: Currency in circulation (CiC) touched a record Rs 40 lakh crore in Jan, rising 11.1% year-on-year, even as its share in the economy declined. The cash-to-GDP ratio eased to around 11.2%, down sharply from the pandemic peak of 14.4% in March 2021, signalling digital payments are financing a growing share of economic activity […]

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UPI rush: Digital payments hit lifetime high of Rs 27.3 lakh crore in October; India logs 20.7 billion transactions in 1 month

[ad_1] Riding on the festive shopping wave, Unified Payments Interface (UPI) transactions soared to an all-time high of Rs 27.28 lakh crore in October, clocking 20.7 billion transactions, according to data from the National Payments Corporation of India (NPCI), reported PTI.This marks a 9.5% month-on-month rise in transaction value from Rs 24.9 lakh crore in […]

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