India’s Digital Payments Boom Fails to Dent Demand for Cash

India's rapid adoption of digital payments has not reduced demand for cash, according to Reserve Bank of India Deputy Governor Shirish Chandra Murmu. Murmu stated that the continued cash demand makes it harder for the central bank to predict how much currency will be needed in circulation. The RBI has not provided additional details on the specific impact of digital payment growth on cash forecasting models.

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