Currency in circulation remains unchanged during Diwali week: SBI Research

The currency in circulation stood at Rs 43,900 cr during the Diwali week in 2021, more or less stagnant compared to the Rs 43,800 cr in the year ago period

The currency in circulation (CIC) remained constant during the Diwali week this year despite the record purchases, showing that payments through digital mode accelerated, SBI said. Within digital payments, it is UPI which is gaining currency and it can be used for real time policy making, it advised.

"Latest currency in circulation data reveals that it has remained constant over the previous year even as record purchases happened during Diwali at Rs 1.25 trillion. This happened for the first time since 2014," SBI group Chief Economic Advisor Soumya Kanti Ghosh said.

The currency in circulation stood at Rs 43,900 crore