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via rediff.comEconomy

Currency in circulation growth in India hits five-year high, driven by FCNR(B) deposits

FROM THE WIRE · REDIFF.COM

Growth in India's currency in circulation (CiC) has reached a five-year high, primarily due to deposits under the Foreign Currency Non-Resident (Bank), or FCNR(B), scheme, leading to a robust increase in reserve money, according to the Reserve Bank of India's (RBI) 'State of the…

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: neutralFaster reserve money growth can shape expectations for monetary policy and liquidity conditions in India.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01India's currency in circulation (CiC) has reached a five-year high.
  2. 02Growth is primarily driven by deposits under the FCNR(B) scheme.
  3. 03The RBI's 'State of the Economy' report links this trend to a robust increase in reserve money.

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