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The Hindu Editorial Analysis
The Importance of Reading The Hindu Editorial: Reading The Hindu newspaper has several benefits, including improving reading skills, facilitating comprehension, staying informed of current events, enhancing essay writing, and more. For individuals aiming for a career in banking, reading editorials is crucial for vocabulary building. In this article, we will examine today’s editorials, provide practice questions, and highlight important vocabulary words.
- The RBI has said that the ‘currency demand paradox’ of banknotes in circulation going up even as digital payments soar is driven by cautious households.
- According to the RBI, households are holding more high-value currency at home even as they substitute lower- value currency with digital transactions. “While the UPI- led retail digital payments grew at a compound annual growth rate (CAGR) of 50% and 27% in terms of volume and value, respectively (during 2016-17 to 2021-22), the currency in circulation-to- GDP ratio also rose and peaked at 14.4% in 2020-21,” RBI said in its annual report.
- The RBI said that and recent data suggests a turnaround in the pandemic-induced precautionary demand for cash.
- For 86 weeks since August 2021 (barring April 2022), currency in circulation has grown in single digits year-on-year
- The value and volume of banknotes in circulation increased by 7.8% and 4.4%, respectively, during 2022-23 as compared with 9.9% and 5%, respectively, during 2021-22.
- In value terms, the share of Rs 500 and Rs 2,000 banknotes together accounted for 87.9% of the total value of banknotes in circulation as on March 31, 2023, as compared to 87.1% as on March 31, 2022.
- Why is the demand primarily for a precautionary motive?
- How do households hold more high value currency at home even as they substitute lower value currency?
- Debilitate– to make somebody’s body or mind weaker
- Reiterate– to repeat an opinion, statement, etc
- Emblematic– serving as a symbol of a particular quality or concept;
- Etched– made by or subjected to etching.
- Shackle– one of a pair of metal rings connected with a chain put around a prisoner’s wrists or ankles
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