Google News
logo
Daily Current Affairs
Nirmala Sitharaman has informed that 'note in circulation (NiC)' has witnessed an annual growth of ______ to Rs 31.92 lakh crore as of December 2, 2022.
A)
5.73%
B)
6.29%
C)
7.98%
D)
8.65%

Correct Answer :   7.98%


Finance Minister, Nirmala Sitharaman has informed that note in circulation (NiC) has witnessed an annual growth of 7.98% to Rs 31.92 lakh crore as of December 2, 2022.

The demand for currency depends upon several macroeconomic factors, including economic growth and level of interest rates.

The quantum of cash or banknotes in the economy depends on the requirement for meeting the demand for banknotes due to GDP growth, inflation, and replacement of soiled banknotes..

Source : Economic Times

Published On : December 20, 2022
Advertisement