"Around election time, cash with the public does normally increase," Governor Raghuram Rajan told reporters after the announcement of the first bi-monthly monetary policy at the RBI headquarters here. "You can guess as to reasons why, we can also guess," he quipped, without specifying the reasons.
Allegations of cash for votes have been made in the past elections and the campaigning is often marred by instances of polling officials and government agencies recovering huge cache of unaccounted money.
Elections are under way in Assam, West Bengal, Kerala, Tamil Nadu and the Union Territory of Puducherry. Assam and West Bengal had the first phase of polling yesterday.

"You see some (spike) not just in the state going to elections, but also neighbouring states. There is something there, we need to understand it better," Rajan said. He, however, admitted that cash in people's hands is more by up to Rs 60,000 crore at present, which is abnormal.

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