Banknotes in circulation see higher than average increase during 2020-21 : Bulletin: Business Today
Business Today

Banknotes in circulation see higher than average increase during 2020-21

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Rashi Bisaria | May 28, 2021

Notes in circulation go up due to cautionary holding of cash amid COVID-19 pandemic: RBI

The Reserve Bank of India on Thursday said banknotes in circulation witnessed higher than average increase during 2020-21, on account of precautionary holding of cash by people due to the COVID-19 pandemic, and its prolonged continuance. The value and volume of banknotes in circulation increased by 16.8 per cent and 7.2 per cent, respectively, during 2020-21, as against an increase of 14.7 per cent and 6.6 per cent, respectively, witnessed during 2019-20, said the RBI annual report.

India stares at double-digit unemployment rate, 10 million job losses in May: CMIE

The job scenario in India is set to worsen a great deal as the nation once again is faced with double-digit unemployment rate. May is going to see unemployment rate in India deteriorate even with limited restrictions in place on account of the second wave of COVID-19 infection, much lenient in comparison to the nationwide lockdown seen during the first wave. The 30-day moving average employment rate as on May 23 has fallen by 100 basis points, marking a loss of 10 million jobs, said Centre for Monitoring Indian Economy (CMIE).

US intelligence community recognises two theories of coronavirus origin

The US intelligence community on Thursday acknowledged its agencies had two theories on where the coronavirus originated, with two agencies believing it emerged naturally from human contact with infected animals and a third embracing a possible laboratory accident as the source of the COVID-19 pandemic. A source familiar with intelligence community analyses said neither the CIA nor the Defence Intelligence Agency presently favour either alternative explanation for the virus' origin

WhatsApp users should not fear new social media rules: Ravi Shankar Prasad

IT Minister Ravi Shankar Prasad on Thursday said that WhatsApp users have nothing to fear about new social media rules, that are designed to prevent abuse and misuse of platforms, and offer users a robust forum for grievance redressal. Prasad said that the government welcomes criticism including the right to ask questions.

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