Cash transactions up by 17%, says RBI report

ut the public returned as much as 99.8 per cent of the cancelled notes into the system, leading many to question the rationale for the exercise itself.The annual report noted a 59 per cent increase in retail electronic payment transactions to 23.3 billion.The share of the Rs 500 bill stood at 42 per cent as of end June 2018, while the same for the Rs 2,000 notes, declined in value to Rs 6.58 lakh crore as of March 2019. However, the combined basis, the share of the high value Rs 500 and Rs 2,000 bills was almost stable at 82 per cent.There was a sharp fall in the instance of fake currency detections in FY19 to 3.17 lakh pieces down from 5.22 lakh in FY18 and 7.62 lakh in FY17, the RBI said. DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: The Telegraphhttp://langleygymnastics.ca/ActivityFeed/MyProfile/tabid/61/UserId/942751/Default.aspx