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India’s currency-GDP ratio highest among BRICS nations

Posted on 24 November 2016

The scramble for cash is well and truly on following the demonetisation of `500 and `1,000 currency notes. But that isn’t a surprise as India is increasingly becoming a currency driven economy.
Despite the huge increase in plastic cards and digital transactions in recent years, the currency in circulation as a proportion of GDP (gross domestic product) in India is the highest among emerging economies. The currency-GDP ratio stood at 10.6% at the end of March this year, the highest in 16 years. In fact, India has the highest currency-GDP ratio among BRICS (Brazil, Russia, India, China, South Africa) nations…………………………………Full Article: Source


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