Uttar Pradesh, Tamil Nadu, and Maharashtra led in cash transactions through currency chests in May. These states reflect high credit and deposit demand. Five states accounted for 40% of cash deposits and withdrawals. Digital payments are rising, yet cash demand persists. Income is a key driver of currency demand in India.
Macro headwinds are behind us; largecaps poised to outperform: Prashant Jain
India’s equity markets are poised for a positive turn as economic challenges recede, according to Prashant Jain. He highlights strong domestic fundamentals, improving external balances,