According to the data of the Reserve Bank of India, the cash with the public has increased to Rs 27.87 lakh crore in the fortnight ended on 9 April. This is an increase of Rs 30,186 crore in a fortnight i.e. 15 days.
Cash withdrawl from bank
On the one hand, the concern of people and hospitals has increased in the increasing cases of corona. At the same time, the lack of oxygen has also put the government in trouble. But in the meantime, the RBI has made an important disclosure. According to the RBI data, in the corona period, within a fortnight i.e. 15 days, people have withdrawn cash from the banks fiercely.
According to the data of the Reserve Bank of India, the cash with the public has increased to Rs 27.87 lakh crore in the fortnight ended on 9 April. This is an increase of Rs 30,186 crore in a fortnight. In fact, there is a need for lockdown in the people, in such a situation, people are starting to keep cash in the house.
Why is withdrawing cash
Market experts believe that when the time of trouble comes, people rely more on cash. Experts believe that in such times, those who were withdrawing the amount of 30 to 40 thousand earlier, are now considering cash as an emergency and are withdrawing up to 1 lakh rupees and keeping the cash with them.
Demand was also increased last year
Last year too, when the corona peaked, the demand for cash increased. When the lockdown was announced across the country in March last year, people had increased cash. That is, during that time people had withdrawn more cash from banks. Talking about the figures, from March to June last year, the cash with the people had increased from 22 lakh crore to 25.62 lakh crore rupees.
Demonstration was also seen in demonetisation
At the time of trouble, people still give the highest value to cash. Before both phases of Corona, something similar was also seen in demonetisation. On 8 November 2016, when the ban on demonetisation was announced, the total cash held by the people was Rs 9,9 lakh crore, which was an increase of 55 per cent. At that time people had cash of 17.97 crores which has increased beyond 27.87 lakh crores.
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