The Reserve Bank Of India (RBI) has reported that currency in circulation contracted by 0.4% on the week to stand at Rs 28.49 lakh crore as on March 19th 2021. The central bank stated further that the overall reserve money spiked 1.4% on the week at Rs 34.49 lakh crore. Currency in circulation rose around 18.3% on a year ago basis compared to 12.20% growth at the same time last year. In the current fiscal, the currency in circulation has expanded by 16.4% so far while the reserve money has increased by around 13%.
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