It is mentioned in a recent news article titled "ATMs across the country go dry" published on economictimes.com Dated 18/04/2018 that there is a high demand for currency ranging between 40k to 45k crores per month nowadays in the country as against a supply of 20k crores.
The data indicates that the total currency available in public circulation during the month of March 2018 is estimated at 17.50 lac crores of rupees which is too much.
ATM withdrawals made during January 2018 Rs. 41,102 crores and during February 2018 Rs. 37,126 crores. The latest figures were not mentioned in the above article.
So, this shows that people have not switched over to the digital mode yet. Why it is so?
Involving in cash transactions creates black money and leads to inflation also. It is only a blow to our economy.
If we want a sound, healthy economy we must switch over to digital transactions. Make all your purchases through your ATM cards without drawing the cash.
Your cash transactions should be limited to minimum daily requirements like milk, vegetables, laundry payments, saloon payments, etc.
Don't force the RBI to indulge in printing notes which is an additional burden to the economy as crores of rupees are wasting in printing the currency notes.
The data indicates that the total currency available in public circulation during the month of March 2018 is estimated at 17.50 lac crores of rupees which is too much.
ATM withdrawals made during January 2018 Rs. 41,102 crores and during February 2018 Rs. 37,126 crores. The latest figures were not mentioned in the above article.
So, this shows that people have not switched over to the digital mode yet. Why it is so?
Involving in cash transactions creates black money and leads to inflation also. It is only a blow to our economy.
If we want a sound, healthy economy we must switch over to digital transactions. Make all your purchases through your ATM cards without drawing the cash.
Your cash transactions should be limited to minimum daily requirements like milk, vegetables, laundry payments, saloon payments, etc.
Don't force the RBI to indulge in printing notes which is an additional burden to the economy as crores of rupees are wasting in printing the currency notes.
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