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Despite withdrawal of Rs 2,000 notes, cash in circulation more than doubles since FY17
The amount of cash in circulation in India has more than doubled since the year of demonetisation and the launch of UPI, despite the removal of Rs 2000 notes. Cash payments remain a vital component alongside digital transactions, with significant growth in UPI transactions post-COVID-19.
The amount of cash in circulation in India has more than doubled since the year of demonetisation and the launch of UPI, despite the removal of Rs 2000 notes. Cash payments remain a vital component alongside digital transactions, with significant growth in UPI transactions post-COVID-19. 
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