RBI, commercial banks spend Rs 21,000 crore on currency management'

Posted on:03 May 2017 15:59:36
RBI, commercial banks spend Rs 21,000 crore on currency management'
03 May 2017 Current Affairs:

  • National Institution for Transforming India (NITI) Aayog CEO Amitabh Kant confirmed that the Reserve Bank of India (RBI) and other commercial banks spend Rs 21,000 crore every year on currency management operations.

  • The major objective of the NITI Aayog is to increase the adoption and use of digital payments in India so that cash usage drops to 5-6 per cent of GDP.


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