{"id":1031975,"date":"2026-08-29T08:16:38","date_gmt":"2026-08-29T02:46:38","guid":{"rendered":"https:\/\/telecomlive.in\/web\/?p=1031975"},"modified":"2026-08-29T08:19:53","modified_gmt":"2026-08-29T02:49:53","slug":"upi-is-booming-so-why-is-cash-in-india-still-growing-at-12-5","status":"publish","type":"post","link":"https:\/\/telecomlive.in\/web\/2026\/08\/29\/upi-is-booming-so-why-is-cash-in-india-still-growing-at-12-5\/","title":{"rendered":"UPI is booming. So why is cash in India still growing at 12.5%?"},"content":{"rendered":"<p>India has rarely been more digital in the way it pays. UPI is used for everything from a cup of tea to rentals, bank transfers can happen in seconds and QR codes are now a fixture at shops and street stalls across the country. <\/p>\n<p>Yet the amount of physical currency Indians hold is still rising at a surprisingly brisk pace. <\/p>\n<p>Currency in circulation grew 12.5% year-on-year as of July 31, 2026, according to the Reserve Bank of India\u2019s latest Bulletin. That was slightly faster than the 12.4% growth recorded at the end of June. Reserve money, adjusted for changes in the cash reserve ratio, expanded 12.6%, while broader money supply grew 14.7%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India has rarely been more digital in the way it pays. UPI is used for everything from a cup of tea to rentals, bank transfers can happen in seconds and QR codes are now a fixture at shops and street stalls across the country. Yet the amount of physical currency Indians hold is still rising at a surprisingly brisk pace. Currency in circulation grew 12.5% year-on-year as of July 31, 2026, according to the Reserve Bank of India\u2019s latest Bulletin. That was slightly faster than the 12.4% growth recorded at the end of June. Reserve money, adjusted for changes in [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[63,4,12],"tags":[],"class_list":["post-1031975","post","type-post","status-publish","format-standard","hentry","category-it-2-the-financial-express","category-newspapers","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1031975","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=1031975"}],"version-history":[{"count":1,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1031975\/revisions"}],"predecessor-version":[{"id":1031978,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/1031975\/revisions\/1031978"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=1031975"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=1031975"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=1031975"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}