Mumbai, Aug. 18 -- Despite the rapid adoption of digital payments, cash remains a significant mode of payment in the Indian economy, and preserving trust in cash is central to maintaining monetary sovereignty, said Reserve Bank of India deputy governor Shirish Chandra Murmu.

"If there is one thing I want to leave you with, it is this: cash remains a significant mode of payment in the Indian economy, and preserving trust in it, through clean notes, secure logistics, and a currency ecosystem people can rely on, is central to preserving monetary sovereignty itself," Murmu said in a speech at the Global Cash Management 2026 discussion organised by Bank Indonesia in Jakarta on Thursday.

Murmu said the adoption of digital payments in India ha...