Impact of Rs 2,000 notes withdrawal: Currency-in-circulation growth dips to 3.7% in Feburary
The growth in CiC , the largest component of RM, decelerated to 3.7 per cent from 8.2 per cent a year ago, reflecting the withdrawal of Rs 2,000 banknotes, according to the RBI.
The total value of Rs 2,000 banknotes in circulation was Rs 3.56 lakh crore at the close of business on May 19, 2023, when the withdrawal of Rs 2,000 banknotes was announced. (Image credit: )