With the abundance of technological solutions available, it is prudent that in public interest, the government and RBI devise means to move to a less-cash economy
…..On the other hand, the Reserve Bank of India (RBI), which has the mandate of currency management, spends a considerable amount of its revenue in managing cash in the country (printing and distribution, storage, management, accounting, etc.). The expenditure towards this cash management reduces the balances that are transferred by RBI to the government’s kitty. Similarly, the government also spends money (out of its revenue) to manage cash payments and receipts through its various departments, social programmes, etc.……..
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