After 5 years of DeMo, cash in circulation at near peak in 2021: Report

Despite the overall increase in the formalisation of the economy in the past five-six years, the key component of an informal economy -- cash in circulation (CIC) as a percentage of GDP -- has continued to rise year after year, barring in the year of note ban in 2016 when it fell to 8.7 per cent, according to a report.

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