The dent in India's GDP growth may be larger than anticipated and recovery may take three to four quarters
Cash is the preferred mode of transaction globally, accounting on average for 85% of them. In some of the developed countries, transactions carried out through cash are less than 50% of total transactions. In India, this ratio is at around 95%. Easy accessibility, its certainty of acceptance and efficiency as the settlement is not dependent on any additional infrastructure, and no additional charges make it universally the most preferred mode. The only problem of cash transactions is the anonymity and difficulty of establishing an expenditure trail which make it an ideal mode for unreported transactions as well.
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