(Rs. crore)

Outstanding

Variation over

as on

Item

Financial year so far

1999

Fortnight

1998-99

1999-2000

Year

Mar. 31#

Aug. 13#

Amount

%

Amount

%

Amount

%

Amount

%

1

2

3

4

5

6

7

8

9

10

11

M3

9,72,204 *

10,24,897

7,881

0.8

38,190 *

4.6

52,693 *

5.4

1,65,375 *

19.2

Components (i+ii+iii+iv)

(i)

Currency with the Public

1,69,382

1,80,881

4,277

2.4

9,063

6.2

11,499

6.8

26,239

17.0

(ii)

Demand deposits with banks

1,35,111

1,26,405

-1,047

-0.8

-9,309

-7.8

-8,706

-6.4

16,990

15.5

(iii)

Time deposits with banks

6,63,890

7,12,891@

4,769

0.7

38,079

6.9

49,002

7.4

1,21,324

20.5

(iv)

"Other" deposits with Reserve Bank

3,821

4,720

-119

-2.5

357

10.1

898

23.5

822

21.1

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

(i)

Net bank credit to Government (a+b)

3,87,151

4,17,358

-1,360

-0.3

32,876

9.9

30,207

7.8

53,885

14.8

(a) Reserve Bank

1,52,539

1,52,718

-3,545

-2.3

10,346

7.7

179

0.1

7,212

5.0

(b) Other Banks

2,34,612

2,64,640

2,185

0.8

22,530

11.5

30,027

12.8

46,673

21.4

(ii)

Bank credit to commercial sector (a+b)

4,90,363

5,00,713

6,206

1.3

-1,555

-0.4

10,350

2.1

68,959

16.0

(a) Reserve Bank

12,226

14,133

4,902

53.1

263

3.2

1,907

15.6

5,684

67.3

(b) Other Banks

4,78,138

4,86,581

1,304

0.3

-1,818

-0.4

8,443

1.8

63,275

14.9

(iii)

Net foreign exchange assets of banking sector

1,64,362

1,70,217

-1,067

-0.6

2,345

1.7

5,855

3.6

29,777

21.2

(iv)

Government's currency liabilities to the public

3,846

3,846

—

—

170

5.1

—

—

324

9.2

(v)

Banking sector's net non-monetary liabilities

other than time deposits

73,519

67,237

-4,102

-5.7

-4,355

-5.2

-6,282

-8.5

-12,430

-15.6

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

60,455

67,183

117

0.2

10.404

24.0

6,728

11.1

13,496

25.1

@ :

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 17.2 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.