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