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The self-use machines produce paper tickets with the QR codes imprinted on them. The pilot project has been implemented with the objective of helping commuters avoid standing in long queues to obtain tickets for their metro travel, another measure at ensuring a hassle free journey. ....
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 ....
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. ....
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. ....