Cash in circulation rises, hindering Modi govt's digital economy push

Ratio of currency in circulation to GDP has risen to 11.23 per cent as of March 2019, putting question mark over demonetisation aim.

India's dependency on cash may slow the country's transition to digital payments despite large numbers of internet and mobile phone users.

For many citizens living in rural areas, cash is still the bedrock of daily existence because of a lack of facilities.

Sudhir Shinde, a farmer in Satara district in Maharashtra, says he withdraws more money from his bank than required as the money vending machine in his village has not been operational for months.

"If I need money urgently, I must make a 32 kilometre trip to Satara town, which is not always possible," said the 37-year-old sugarcane farmer Shinde, while buying