Cash in Indian economy at Rs 20.4 lakh cr; here is what SBI said
It pointed out to data from leading indicators, including passenger car sales, commercial vehicle sales and two wheeler sales, among others, which shows a dip in activity, to point out that the higher CIC does not suggest a jump in economic activity.
It argued that the higher CIC is because of a change in demand for cash more than two years after re-monetization and added that money supply has been restored to full level now. PTI