Household savings in form of cash soared to 7-yr high in post demonetisation year
As per the RBI data, financial saving of the household sector in form of currency was 1.2 per cent of GNDI in 2011-12, 1.1 per cent in 2012-13, 0.9 per cent in 2013-14. It increased to 1 per cent of GNDI in 2014-15, 1.4 per cent in 2015-16 and declined by 2 per cent in the demonetisation year of 2016-17.
Financial savings of the household sector in form of cash soared to 7-year high of 2.8 per cent of gross national disposable income (GNDI) in 2017-18, the year following demonetisation. Image source: Reuters