Reserve Money Up 12.8% On Year

The Reserve Bank Of India (RBI) has reported that currency in circulation contracted 0.2% on the week to stand at Rs 27.70 lakh crore as on November 20th2020. The central bank stated further that the overall reserve money gained by 0.1% on the week to Rs 33.17 lakh crore. Currency in circulation rose 22.2% on a year ago basis compared to 12.8% growth at the same time last year. In the current fiscal, the currency in circulation has expanded by 13.2% so far while the reserve money has grown by 9.5%.

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