RBI Annual Report Reflects a More Normal Year

The Reserve Bank of India (RBI) has issued its annual report for 2021-22. The backdrop for the year was India’s second and third wave of the pandemic, which affected operations.

Key observations from the annual report are:

• The growth in cash in circulation fell back to less than the trend rate of the last ten years.

• The coin indent was reduced by 73% due to the level of stocks and reduced demand.

• Counterfeiting started to increase, although it remained significantly behind 2019-20.

• The RBI was able to make significant progress tackling the backlog of soiled notes awaiting destruction.

• A national consumer survey has provided insights into cash usage.

• Action was taken to address an issue with ATMs not being properly re-stocked with notes and coin distribution.

• The production of colourshift ink now takes place in India by Bharaytiya Reserve Banknote Mudran Private Limited (BRBMPL).