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Entertainment spending increased nearly 100% in 2 years, reveals CMS Consumption Report - Industry News

Entertainment spending increased nearly 100% in 2 years, reveals CMS Consumption Report - Industry News
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Despite withdrawal of Rs 2,000 notes, cash in circulation more than doubles since FY17

India Business News: The amount of cash in circulation in India has more than doubled since the year of demonetisation and the launch of UPI, despite the removal of Rs 200

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Latest News | Monthly Avg Cash Withdrawals Went Up by 5 51 Pc in FY24: Report

Get latest articles and stories on Latest News at LatestLY. India's leading cash logistics company CMS Infosystems on Monday said there has been a 5.51 per cent growth in the monthly average cash withdrawals from an ATM at Rs 1.43 crore in FY24. Latest News | Monthly Avg Cash Withdrawals Went Up by 5.51 Pc in FY24: Report.

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UPI: Cash in circulation more than doubles since FY17 on consumption demand

The currency in circulation has more than doubled from Rs 13.35 lakh crore in March 2017 to Rs 35.15 lakh crore in end March 2024. Significantly the currency in circulation has happened despite the central bank deciding to withdraw the Rs 2000 denomination banknotes from circulation from May 2023 which resulted in the central bank getting 97.83 percent of Rs 3.56 lakh crore worth notes back to the banking system.

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Unfolding India s Consumption Story: India s cash withdrawals from ATMs increase by 5 51% in FY24, CMS Infosystems report shows

A report by CMS Infosystems shows a 5.51% increase in monthly average cash withdrawals from ATMs in FY24, reaching Rs 1.43 crore. This growth highlights the continued reliance on cash transactions despite the rise of digital payments. Metro areas saw a significant 10.37% increase in cash withdrawals, while Karnataka led in withdrawals per ATM. The report also notes a rise in spending on media, entertainment, and FMCGs, indicating a positive trend in consumption.

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