“We see a 16 per cent increase in cash demand through ATM
channels over the last two years. States having high per capita cash withdrawals are the ones with high economic development, namely Delhi, Tamil Nadu, Punjab, Karnataka, etc. States having low per capita cash withdrawals are typical BIMARU states – Bihar, Rajasthan, Madhya Pradesh, Uttar Pradesh, etc,” the report stated.
“States with the fast pace of growth in cash withdrawal are Assam, Chhattisgarh, and Kerala, while states with the slow pace of growth in cash withdrawal are Tamil Nadu, Maharashtra, and Bihar, the report stated. It said that festive seasons continue to see a 15-20 per cent spike in cash withdrawals. The report said that industries with high-cash usage included jewellery, tolls and highways, utility, and petroleum, while those with low-cash usage included footwear, durables, and telecom.