Currency in circulation continues to contract

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As on 6 January, Reserve Bank of India (RBI) data showed that currency in circulation continued to shrink. In the week to 6 January, currency in circulation contracted by 4.3%, indicating that the introduction of new notes has been slow. Currency in circulation consists of currency with the public and cash with banks. The component of currency with the public moved up slightly in the fortnight to 23 December, after several fortnights of contraction.