Question
According to Finance Minister Nirmala Sitharaman
announcement the note in circulation (NiC) has witnessed an annual growth of ____ per cent to Rs 31.92 lakh crore as of December 2, 2022.Solution
Finance Minister Nirmala Sitharaman recently said note in circulation (NiC) has witnessed an annual growth of 7.98 per cent to Rs 31.92 lakh crore as of December 2, 2022. The quantum of cash or banknotes in the economy depends on the requirement for meeting the demand for banknotes due to GDP growth, inflation, replacement of soiled banknotes and growth in non-cash modes of payment.
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