Central Banking

Demise of cash ‘vastly exaggerated’: MAS’s Menon

ravi-menon

Ravi Menon, the managing director of the Monetary Authority of Singapore, on Monday said reports of the demise of cash were "vastly exaggerated".

At the Currency Conference 2011, in Marina Bay Sands, Singapore, Menon said: "Electronic payment alternatives have mushroomed in many countries, ranging from contactless stored value cards in Singapore to real-time settlement of electronic fund transfers in the United Kingdom. But cash remains king. Even in advanced economies."

Menon said in Singapore

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