It is also interesting to look at data on cash withdrawals from ATMs to see whether any behavioural changes in the usage of cash is happened. Cash withdrawals, which dried up in November 2016 at Rs 850 billion, have seen a substantial jump in March 2017 to Rs 2,262 billion and to Rs 2,171 billion in April 2017. This should be compared with the pre-demonetisation months September 2016 & October 2016 where we witnessed withdrawals of Rs 2,223 billion & Rs 2,551 billion respectively. Though there is an overall cash crunch of around 20% in the economy, considering the year-to-year cash growth, people are merrily back to the use of cash as in the pre-demonetisation era.
Cutouts is an open source application. Code licensed under the MIT license. Copyright 2018 Siddharth Kannan