DUR­ING POLLS, EX­CESS ₹ 60k CR CASH IN SYS­TEM

The Economic Times - - Rbi Monetary Policy -

Tak­ing a dig at the un­fet­tered elec­toral ex­pen­di­ture, Raghu­ram Ra­jan said the RBI has no­ticed ex­cess cash in the sys­tem dur­ing elec­tions. “We see some pos­si­bil­ity of, around the elec­tion time, cash with the pub­lic in­creas­ing. You can guess why, we also guess,” Ra­jan said. It’s a widely known that po­lit­i­cal par­ties de­ploy big money to al­legedly in­flu­ence elec­tion out­come. “There is some­thing there we need to un­der­stand bet­ter. But, it (pub­lic cash hold­ing) is about ₹ 50,000 crore to ₹ 60,000 crore more than what we an­tic­i­pated at this time of the year.”

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