(Rs. crore)

Outstanding

Variation over

as on

Item

1999

Fortnight

1998-99

1999-2000

Year

Mar. 31#

July 2#

Amount

%

Amount

%

Amount

%

Amount

%

1

2

3

4

5

6

7

8

9

10

11

M3

9,66,149*

10,13,979

3,221*

0.3

36,796*

4.5

47,829*

5.0

1,56,899*

18.3

Components (i+ii+iii+iv)

(i)

Currency with the Public

1,70,119

1,82,174

-2,968

-1.6

10,124

6.9

12,055

7.1

26,046

16.7

(ii)

Demand deposits with banks

1,30,267

1,27,567

2,693

2.2

-3,070

-2.6

-2,700

-2.1

12,700

11.1

(iii)

Time deposits with banks

6,61,952

6,98,892@

3,273

0.5

28,756

5.2

36,941

5.6

1,17,333

20.2

(iv)

"Other" deposits with Reserve Bank

3,812

5,346

223

4.4

986

27.8

1,534

40.2

820

18.1

Sources (i+ii+iii+iv-v)

(i)

Net bank credit to Government (a+b)

3,86,672

4,15,838

3,733

0.9

36,008

10.9

29,165

7.5

49,238

13.4

(a) Reserve Bank

1,52,539

1,57,779

1,811

1.2

13,671

10.1

5,240

3.4

8,948

6.0

(b) Other Banks

2,34,133

2,58,059

1,923

0.8

22,337

11.4

23,925

10.2

40,290

18.5

(ii)

Bank credit to commercial sector (a+b)

4,86,942

4,94,339

5,063

1.0

2,056

0.5

7,396

1.5

59,545

13.7

(a) Reserve Bank

12,226

10,986

1,654

17.7

242

3.0

-1,240

-10.1

2,558

30.4

(b) Other Banks

4,74,717

4,83,353

3,409

0.7

1,813

0.4

8,636

1.8

56,987

13.4

(iii)

Net foreign exchange assets of banking sector

1,48,633

1,53,848

-368

-0.2

-902

-0.7

5,215

3.5

28,180

22.4

(iv)

Government's currency liabilities to the public

3,705

3,846

—

—

130

3.9

141

3.8

364

10.5

(v)

Banking sector's net non-monetary liabilities

other than time deposits

59,803

53,891

5,207

10.7

495

0.7

-5,911

-9.9

-19,571

-26.6

of which : Net non-monetary liabilities of R.B.I.

60,464

65,037

1,986

3.2

15,043

34.8

4,572

7.6

6,711

11.5

@ :

Includes Rs. 17,945 crore on account of proceeds from Resurgent India Bonds (RIBs). Excluding these proceeds, the year-on-year M₃ growth rate in column 11 would work out to be 16.2 per cent.

* :

Revised in line with the new accounting standards and consistent with the methodology suggested by the Working Group on Money Supply: Analytics and Methodology of Compilation (June 1998). The revision is in respect of pension and provident funds with commercial banks which are classified as other demand and time liabilities and includes those banks which have reported such changes so far.