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Weekly Statistical Supplement


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Date : Oct 24, 1998
7. Money Stock : Components and Sources
                      (Rs. crore)

    Outstanding   Variation over
    as on
 
 
 
 
 
 
 
 
 
  Item           Financial year so far
   
    1998
 
Fortnight
1997-98
1998-99
Year
 
    Mar. 31# Sept. 25#   Amount % Amount % Amount % Amount %

  1 2 3   4 5 6 7 8 9 10 11

M3   8,25,389 8,95,718 @ 8,077 0.9 48,804 7.0 70,329 8.5 1,45,066 19.3
Components (i+ii+iii+iv)                      
(i) Currency with the Public 1,45,182 1,51,437   -1,729 -1.1 3,295 2.5 6,254 4.3 16,055 11.9
(ii) Demand deposits with                      
  banks 1,18,435 1,14,556   3,724 3.4 -1,761 -1.7 -3,880 -3.3 10,983 10.6
(iii) Time deposits with banks 5,58,167 6,25,953 @ 5,999 1.0 46,329 10.0 67,786 12.1 1,18,391 23.3
(iv) "Other" deposits with                      
  Reserve Bank 3,604 3,773   83   942 169 -363    
Sources (i+ii+iii+iv-v)                      
(i) Net bank credit to                      
  Government (a+b) 3,30,619 3,66,624   -3,460 -0.9 14,154 4.9 36,004 10.9 63,850 21.1
  (a) Reserve Bank 1,35,160 1,36,419   -10,250   -10,488   1,260   22,726  
  (b) Other Banks 1,95,460 2,30,204   6,790   24,642   34,745   41,124  
                         
(ii) Bank credit to commercial                      
  sector (a+b) 4,32,190 4,37,193   4,674 1.1 1,458 0.4 5,003 1.2 59,427 15.7
  (a) Reserve Bank 8,186 8,182   15   1,297   -4   638  
  (b) Other Banks 4,24,004 4,29,011   4,660   161   5,007   58,789  
                         
(iii) Net foreign exchange assets                      
  of banking sector 1,26,569 1,34,620   553 0.4 11,855 11.2 8,050 6.4 17,269 14.7
(iv) Government's currency                      
  liabilities to the public 3,120 3,522   -   215   402   389  
(v) Banking sector's net non-                      
  monetary liabilities                      
  other than time deposits 67,110 46,240   -6,309   -21,122   -20,869   -4,132  
  of which : Net non-monetary                      
  liabilities of R.B.I. 43,219 55,897   758   -999   12,678   21,712  

@ : 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 16.9 per cent.


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