RBI's Murmu says India has 176 billion rupee notes
India has a whopping 176 billion rupee notes in circulation, more than all US dollar and euro notes put together.
RBI Deputy Governor Shirish Chandra Murmu shared this eye-opening fact at a conference in Jakarta on August 13.
RBI prints 28-30 billion notes annually
To keep money clean and usable, the RBI produces between 28 and 30 billion banknotes annually across six denominations and retires about 21 billion old ones.
They track things like economic growth, inflation, and how much people use digital payments to decide how much cash is needed.
Even with digital payments growing fast, cash use is still rising in double digits.
The RBI is also exploring ways to extend the life of banknotes, including surface coatings on the substrate and polymer notes for lower denominations, while making sure ATMs and banks across India stay stocked.