Most transactions done with currency, not cards: RBI Director

Currency notes are used for the bulk of transactions in the country, despite the growing use of instruments like credit cards and electronic payments, RBI Regional Director Surekha Marandi said today.

Currency notes are used for the bulk of transactions in the country, despite the growing use of instruments like credit cards and electronic payments, RBI Regional Director Surekha Marandi said today.

HT Image

This trend was also noticed in developed nations, Marandi told reporters after the inauguration of a Bank Note Exhibition by Assam Chief Secretary N K Das here.

"As a part of its drive against counterfeit notes, RBI continues to modify the design of bank notes, in terms of design, colour, size and graphics and also introduces security features," she said.

The total value of currency notes in circulation in the country stood at Rs 8,42,472 crore as on last Friday, she said.

The exhibition has been organised as part of RBI's Platinum Jubilee Celebrations and showcases the journey of Indian currency notes from the pre-Independence period up to the latest changes incorporated in 2005.