 "Ontario Teachers' Pension Plan bets on PE, infrastructure in India")
Cash in usage in India increased 23 per cent between December 2017 and December 2019, and reached pre-demonetisation levels, a report by cash logistics firm CMS Info Systems said on Friday.
The report stated that industries, such as logistics and jewellery, had seen the biggest increase in usage over the past two years, while e-commerce and banking have seen the sharpest fall.
The report by CMS tracked what is known as the CMS Cash Index from April 2016 to December 2019. The CMS Cash Index is a weighted index comprising three factors – cash in circulation, cash handled in the company’s ATM,
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