The concept of “Currency with the Public” refers to the total stock of money on circulation which is held by the public at any point of time.

The outbreak and rapid spread of COVID-19 leading to the nationwide lockdown might have triggered the Indian citizens to hoard more cash. The massive growth in the cash withdrawal level between the fortnight ended on 27th March’20 to the same on 10th April’20 is a proof towards that.

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