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The precautionary behaviour in cash usage is also evident from the excess financial savings of households, which rose to 15.5 per cent of the Gross National Disposable Income (GNDI) in 2020-21 from 11.7 per cent a year ago. The analysis also suggests that for transaction purposes cash is being increasingly substituted by digital means.
The transactional use of cash has been on a decline and is increasingly getting substituted with digital modes of payments, even as the store-of-value role of cash remains intact, said the paper.
Cybersecurity, customer protection, and cost-effectiveness are essential for sustaining the momentum towards digital payments pushed by the Covid pandemic, said Reserve Bank paper on Tuesday. The transactional use of cash has been on a decline and is increasingly getting substituted with digital
India's merchandise exports to rise over 11% to $114 billion in July-September: Report
Exim Bank forecasts India's Q3 Non-Oil exports to hit $ 68.3bn By IANS | Published on Thu, Dec 17 2020 13:36 IST | 2 Views Petrol. (File Photo: IANS). Image Source: IANS News New Delhi, Dec 17 : Export-Import Bank of India (India Exim Bank) forecasts India's Non-Oil exports for the third quarter of FY2021 to amount to $ 68.3 billion, witnessing a marginal positive growth of 0.3 per cent over the corresponding quarter of the previous year, after three consecutive quarters of contraction. On the other hand, total merchandise exports are forecast to continue to witness a moderat...