2026-02-19·via Latest BL Data Stories News, Business, Economic Data Stories - BusinessLine | The HinduBusinessLine
SENSEX 78,493.54
+ 504.86
NIFTY 24,353.55
+ 156.80
CRUDEOIL 7,715.00
-1,141.00
GOLD 154,611.00
+ 1,459.00
SILVER 258,079.00
+ 9,451.00
SENSEX 78,493.54
+ 504.86
NIFTY 24,353.55
+ 156.80
NIFTY 24,353.55
+ 156.80
CRUDEOIL 7,715.00
-1,141.00
CRUDEOIL 7,715.00
-1,141.00
GOLD 154,611.00
+ 1,459.00
The recent growth in cash in circulation is driven by the growing demand in States. However, the cash in circulation has gone through a transformation, as demand for the highest denomination note of ₹500 is driving all of the growth. This is in stark contrast to the UPI transactions, where small token customer-to-merchant transactions dominate. Given the nature of India’s economy, the small token transactions form bulk of the economic activity, and are becoming a more and more significant component of GDP compared to cash. A recent report by ‘SBI research’ stated that governments should take care not to disincentivise UPI transactions.
Published on February 19, 2026
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