Each day the CMS network moves a little more than 4000 crores in currency through its systems. Through the 63000+ ATMs that we replenish and the 42000+ retail and enterprise chains, whose cash payments we collect, process and bank every single day.
The CMS Cash Index was first created post demonetisation, to track the infusion of cash back into the economy. Over time, this track of inflows and outflows of currency has become a valid measure of the commerce and economic health of the country, at any given point. Closer cuts give a more nuanced, month on month view on regional variances, urban rural divides and sector specific activity. The CMS network is unparalleled in the depth and breadth of its reach and we are equitably present in all four regions. (And, while we service many border towns and remote villages in the North East, the numbers are not statistically significant, and hence are not represented here).
Cash in India continues to be the dominant medium of transactions, across age, gender, regions and income groups. Above all, the CMS Cash Index reflects the ebb and tide of commerce, the peaks of festivals and wedding seasons, of pay days, of recessions and crisis events in India.
CMS CASH INDEX
CMS Cash Index
The primary CMS Cash Index is a weighted index consisting of two factors, the cash that goes into circulation via the CMS ATM channels and cash that we collect from the retail channels, which stands in as proxy for consumption patterns by state and sectors. Our analysis is based on data gathered from 659 districts and 12,367 pin codes across India.
As we stand today, the Cash Index reflects the slow recovery of the Indian economy, that came after the troughs of COVID-19 peaking, and lockdown periods. The Index of 2020 mirrors the GDP of the country along with other macro trends such as the PPP and Manufacturing Index. While the economic recovery started strong in beginning of 2021, peaking in March the second wave created an expected dip. Since then the Index is on a recovery path once again.
Currency Input at State Level
ATM Replenishment Trend
The Chart view provides a selective comparison of the movement and flow of cash into various state economies, via the ATM channel. The Map view is a graphical and bird’s eye view of the intensity and changes to the cash input in India at state level.
The value is the Relative Intensity of cash replenishment within the CMS ATM Network in comparison to our base period of Apr’16. Hence a value of 115 for particular state means avg. cash replenished/ATM in that state in that month is 115% of that in Apr-16.
Currency Spend Trends
Retail Collections by Sector
The table shows the cash commerce by sector via the Relative Intensity of cash collected by retail points being serviced by CMS and collated by sector. A value of 115 for particular sector means Avg. Cash Picked up/RCM in that Industry in that month is 115% of that in Apr-16.
The Chart view provides a selective comparison of six sectors at a time and how they fared over the years from the start of FY16. The Sector allows a more in-depth comparison of any particular sector for any selected period of time.
Demographic Trends of Currency Input
ATM Demography Trend
This is a Metro, Semi-Metro and Rural cut of currency flow through our ATM base. 51% of the our ATM network is based in semi-urban/rural India, making this a rare insight of how Bharat fares along with Urban India. In the year 2020 as India struggled with various levels of lockdown in urban India, our index shows how rural India has been pulling the economy along in their consumption levels.
The value shows Replenishment / ATM in a month relative to Jan ’20. For e.g., 115 for particular demography means Avg. Cash replenished/ATM in that demography in that month is 115% of Jan’20.