Reserve Money Contracts By 0.5% This Fiscal

The Reserve Bank Of India (RBI) reported that currency in circulation edged up 0.8% on the week to stand at Rs 24.06 lakh crore as on 17th April 2020. The central bank noted further that the overall reserve money also rose on the week by 1.80% to Rs 30.16 lakh crore. Currency in circulation rose around 14.5% on a year ago basis compared to 15.8% jump at the same time last year. In the current fiscal, the currency in circulation has risen by 2.4% so far while the reserve money has contracted by 0.5%.

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