Cash still king in India despite digital boom, says RBI Deputy Governor Murmu
BusinessLine 1 hr ago·18 Aug 2026, 7:08 am
Reserve Bank of India Deputy Governor Michael Patra has emphasized that physical cash remains a dominant force in the Indian economy. Speaking at a global central banking forum, he noted that while digital payments are growing rapidly, the total amount of currency in circulation is still increasing at a double-digit rate.
This trend highlights the unique financial behavior of Indian consumers, who continue to rely heavily on cash for savings and large-value transactions. For investors, this indicates that the shift to digital is not replacing cash usage but rather co-existing with it.
Investors should monitor the central bank's future policies on digital currency and cash management. The sustained growth in currency circulation could influence inflation trends and the overall liquidity in the market.
Key takeaways
- Category: Economy.
- Flagged as a high-impact, market-moving story.
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