As Covid numbers continued to remain at elevated levels in the fortnight ended May 21 and the dependence upon cash rose amid the uncertainty surrounding medical emergency and for general household expenditure, currency with public rose to a new high of Rs 28,62,466 crore.
According to the data released by the Reserve Bank of India (RBI) on Friday, currency with public rose by Rs 23,145 crore in the fortnight ended May 21. In the two-month period between March 27 and May 21, as cases rose and stayed at elevated levels, cash holdings with public jumped over Rs 1 lakh crore. As on March 26, 2021, currency with public amounted to Rs 27,57,750 crore.
May witnessed spike in cash holdings as fresh cases and mortality jumped to record highs.