5 years since Demonetisation

Subject – Economy

Context – Nearly 5 years since note ban: Cash with public rising, at all-time high

Concept –

Currency with public has continued to rise even five years after the government announced demonetisation on November 8, 2016.
As per the RBI’s definition, currency with public is arrived at after deducting cash with banks from total currency in circulation (CIC). CIC refers to cash or currency within a country that is physically used to conduct transactions between consumers and businesses.
Cash-to-GDP Ratio or Currency in Circulation (CIC) to GDP Ratio or simply currency-to-GDP ratio shows the value of cash in circulation as a ratio of GDP.