Cash Usage Still High in India Despite Digital Payment Growth

Even though digital payments are growing, people in India are still using a lot of cash.

As of early May, there's 2.4% more cash in use compared to last year.

Around Rs 38.1 lakh crore in cash is circulating, which is about 11.5% of the country's total economy.

A big reason for this is increased spending in rural areas, possibly because of good farming results.

Even though digital payments are increasing, cash still makes up 60% of how people spend money.

The amount of cash in use has more than doubled in the last decade.