Mumbai
The Reserve Bank of India (RBI) has shared important information about 100 and 200 rupee notes. Soon new notes of these values ​​will be issued in the market, although there will be no change in their design. RBI said that these new notes will be signed by Governor Sanjay Malhotra. This process is performed after the appointment of every new governor, in which their signature notes are issued.
Old notes will be valid
The old 100 and 200 rupee notes will remain valid as before and they will not need to be replaced. RBI has clarified that these new notes will soon be available in banks and ATMs. Apart from this, it is also being observed that the most cash is being used in the country.
How much did the use of cash in India increase?
According to reports, despite the closure of 2,000 rupee notes, the circulation of cash in the country has increased more than before. According to RBI data, the cash circulation in March 2017 was Rs 13.35 lakh crore, which increased to Rs 35.15 lakh crore by March 2024.
However, digital payments are also increasing rapidly. In March 2020, digital transactions via UPI were Rs 2.06 lakh crore, while by February 2024 it increased to Rs 18.07 lakh crore. Talking about the entire 2024, digital transactions have been up to about 172 billion rupees so far.