After India declared demonetization of all 500 and 1,000 rupee notes in 2016, the currency in circulation had dropped to 13.35 trillion rupees in financial year 2017. However, the CIC increased rapidly to over 33 trillion rupees as of financial year 2023. The currency in circulation in a country is part of the total money supply chain, and it represents the physical cash that people might have in hand or stored in banks or other financial institutions.
Value of currency in circulation in India from FY 2015 to FY 2021 (in trillion Indian rupees)
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Reserve Bank of India. (May 29, 2023). Value of currency in circulation in India from FY 2015 to FY 2021 (in trillion Indian rupees) [Graph]. In Statista. Retrieved May 15, 2024, from https://www.statista.com/statistics/1028099/india-currency-in-circulation-value/
Reserve Bank of India. "Value of currency in circulation in India from FY 2015 to FY 2021 (in trillion Indian rupees)." Chart. May 29, 2023. Statista. Accessed May 15, 2024. https://www.statista.com/statistics/1028099/india-currency-in-circulation-value/
Reserve Bank of India. (2023). Value of currency in circulation in India from FY 2015 to FY 2021 (in trillion Indian rupees). Statista. Statista Inc.. Accessed: May 15, 2024. https://www.statista.com/statistics/1028099/india-currency-in-circulation-value/
Reserve Bank of India. "Value of Currency in Circulation in India from Fy 2015 to Fy 2021 (in Trillion Indian Rupees)." Statista, Statista Inc., 29 May 2023, https://www.statista.com/statistics/1028099/india-currency-in-circulation-value/
Reserve Bank of India, Value of currency in circulation in India from FY 2015 to FY 2021 (in trillion Indian rupees) Statista, https://www.statista.com/statistics/1028099/india-currency-in-circulation-value/ (last visited May 15, 2024)
Value of currency in circulation in India from FY 2015 to FY 2021 (in trillion Indian rupees) [Graph], Reserve Bank of India, May 29, 2023. [Online]. Available: https://www.statista.com/statistics/1028099/india-currency-in-circulation-value/