India currency in circulation (CiC) — how much cash, and which notes
Quick answerIndia’s currency in circulation (CiC) — all banknotes and coins outside the RBI — is of the order of Rs 37 lakh crore in 2024-25 per the RBI’s weekly data (about Rs 35.2 lakh crore at end-March 2024). By value the Rs 500 note dominates at about 86% of banknotes, while the withdrawn Rs 2000 note is down to roughly 0.2%.
The chart above is a visual summary; the table below carries the same RBI figures so they are readable without JavaScript — for accessibility and AI answer engines.
Banknotes in circulation by value — share by denomination (end-March 2024)
| Denomination | Share of banknote value |
| Rs 500 | 86.5% |
| Rs 200 | 4.1% |
| Rs 100 | 3.5% |
| Rs 2000 (being withdrawn) | 0.2% |
| Other notes (Rs 50/20/10/5) & coins | 5.7% |
| Total banknotes in circulation | 100% |
Approximate value shares from the RBI Annual Report 2023-24 (banknotes in circulation by value, end-March 2024); the residual bucket aggregates the small denominations and coins. Currency in circulation also includes coins, which are a small share of value. For the exact latest figures see the RBI source linked below.
What it means for bankers
Currency in circulation is the largest component of reserve money (M0), so its growth shapes how much base money the RBI must supply and manage through CRR and liquidity operations. A rising CiC-to-GDP ratio points to continued cash demand despite the surge in UPI / digital payments; a falling currency-with-public share of broad money (M3) signals deposits and digital money growing faster than cash. The dominance of the Rs 500 note — and the near-complete withdrawal of the Rs 2000 note since May 2023 — concentrates note-handling, ATM cassette and detection risk in a single high-value denomination.
Currency in circulation FAQ
What is currency in circulation (CiC) in India?
Currency in circulation (CiC) is the total value of banknotes and coins issued by the RBI that are circulating in the economy - held by the public, by businesses and in bank tills and vaults. It is the largest single component of reserve money (M0). In India CiC is of the order of Rs 37 lakh crore in 2024-25 per the RBI's weekly statistical supplement.
What is the difference between currency in circulation and currency with the public?
Currency in circulation (CiC) is all notes and coins the RBI has issued that are outside the RBI. Currency with the public is CiC minus the cash that banks hold in their own tills and vaults, and it is the figure that feeds into narrow money (M1) and broad money (M3).
Which currency note has the largest share in India?
By value the Rs 500 note dominates, at about 86% of the value of banknotes in circulation per the RBI Annual Report. By number of pieces the Rs 500 note is around 40%. The Rs 2000 note, withdrawn from May 2023, is now only about 0.2% of value.
What happened to the Rs 2000 note?
The RBI announced the withdrawal of the Rs 2000 banknote from circulation in May 2023. It remains legal tender, but the vast majority has been returned to the banking system, leaving it at roughly 0.2% of the value of banknotes in circulation.
Methodology & sources: see how BankPulse dashboards are sourced, verified & updated · machine-readable currency-in-circulation JSON feed.
Source: RBI Weekly Statistical Supplement (currency in circulation) & RBI Annual Report (denomination mix),
rbi.org.in. We never reproduce RBI text verbatim. Reviewed by
Vikram Jain. Last updated 19 Jun 2026, 02:49 IST.