Groww Digest

6 Day Course

Theme: cash
Sept 12 to Sept 18, 2022

6 Day Course is a part of our newsletter

series, Groww Digest - all things personal
finance.

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Day 1: Monday
6 Day Course | Theme: cash

In this week’s course, we’ll look at some cool

facts about cash in India.

In India, there are notes for amounts of Rs 1,

2, 5, 10, 20, 50, 100, 200, 500, and 2,000.

On the other hand, Rs 1, 2, 5, and 10 coins are

the most widely circulated coins. However,
there are coins of lower values in circulation
too — like 50 paisa coin.

Recently, a Rs 20 coin has also been

introduced — it hasn’t become very common
yet.

On special occasions, commemorative coins

are also introduced. For example, a Rs 100
coin was introduced on the 100th birthday of
MG Ramachandran.

Page: 2
Day 2: Tuesday
6 Day Course | Theme: cash

It is common for many people and businesses to

not accept notes that are a bit old or slightly torn
in places.

RBI rules state that all notes that are intact are
valid. Small tears and minor soiling is completely
acceptable.

If people wish to exchange old notes for new

ones — they can do so at any bank branch or
issue office of RBI.

If the damage to the notes is higher (essential

parts damaged or torn), the notes can still be
exchanged at banks though the procedure may
be slightly longer.

Mutilation of coins is a common problem. In

some parts of the country, some people had
started melting coins to make blades and knives.

Coins once melted, lose their value and are

destroyed forever. They cannot be exchanged
for fresh coins or notes.

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Day 3: Wednesday
6 Day Course | Theme: cash

Notes are printed on special paper that is

manufactured by Security Paper Mill located
in Hoshangabad in Madhya Pradesh.

Notes are printed in four locations at present.

These are, Dewas in Madhya Pradesh, Nasik in
Maharashtra, Mysuru in Karnataka, and
Salboni in West Bengal.

India has stopped printing new notes of the

value of Rs 2000.

So the biggest value note being printed right

now is Rs 500.

Coins are made in mints located in Mumbai,

Hyderabad, Kolkata, and Noida.

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Day 4: Thursday
6 Day Course | Theme: cash

The paper currency act of 1861 introduced

British India notes and gave the government a
monopoly in publishing notes.

Prior to this, a number of commercial banks in

India used to issue their own currency notes.

With the colonial govt getting a monopoly, the

first set of British India notes called ‘Victoria
Portrait Series’ were issued in denominations
of 10, 20, 50, 100, and 1000.

Page: 5
Day 5: Friday
6 Day Course | Theme: cash

All over the globe, central banks have been

trying to reduce the use of physical cash and
increase the use of digital money.

This is because printing, transporting,

maintaining, and scrapping cash takes a lot of
effort and money from the government.

In India, we have UPI along with

NEFT/IMPS/RTGS which aims to increase the
use of digital money.

Digital money adoption has been growing very

fast in India.

But, the use of cash isn't going down at all.

2022 saw the highest cash in circulation in
India.

For now it seems, cash is very much here to

stay.

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Day 6: Sunday
6 Day Course | Theme: cash

We’ve reached the end of this week’s course that

started on Monday.

Here’s a test you should take. Get pen and

paper!

Question 1:
Which of these do not exist?

-Rs 5 coin
-Rs 10 coin
-Rs 20 coin
-All of them exist

Question 2:
Soiled notes can be exchanged at:

-At a bank
-At some banks and RBI
-At the RBI

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Day 6: Sunday
6 Day Course | Theme: cash

Question 3:
Which of these notes has India stopped printing?

-Rs 20
-Rs 200
-Rs 2000

Question 4:
Which of these is a form of digital cash?

-IMPS
-UPI
-Both

Question 5:
In which year was India's cash circulation the
highest?

-2010
-2016
-2022

Page: 8
Day 6: Sunday
6 Day Course | Theme: cash

Answers:

Q1: All of them exist;

Q2: At some banks and RBI;
Q3: Rs 2000;
Q4: Both;
Q5: 2022.

Page: 9
 That’s it for this week!

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See you next week!

—Groww Digest Team

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