(Rs. crore)

Outstanding

Variation over

as on

Item

Financial year so far

1999

Fortnight

1998-99

1999-2000

Year

Mar. 31#

Aug. 27#

Amount

%

Amount

%

Amount

%

Amount

%

1

2

3

4

5

6

7

8

9

10

11

M3

9,72,204 *

10,27,484

2,587

0.3

57,105 *

7.0

55,280 *

5.7

1,49,047 *

17.0

Components (i+ii+iii+iv)

(i)

Currency with the Public

1,69,382

1,76,673

-4,208

-2.3

4,255

2.9

7,291

4.3

26,840

17.9

(ii)

Demand deposits with banks

1,35,111

1,27,195

790

0.6

-5,978

-5.0

-7,916

-5.9

14,448

12.8

(iii)

Time deposits with banks

6,63,890

7,19,085@

6,194

0.9

57,674

10.4

55,195

8.3

1,07,923

17.7

(iv)

"Other" deposits with Reserve Bank

3,821

4,531

-189

-4.0

1,154

32.6

709

18.6

-164

-3.5

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

(i)

Net bank credit to Government (a+b)

3,87,151

4,19,643

2,285

0.5

34,287

10.4

32,491

8.4

54,758

15.0

(a) Reserve Bank

1,52,539

1,50,668

-2,051

-1.3

5,477

4.1

-1,871

-1.2

10,031

7.1

(b) Other Banks

2,34,612

2,68,975

4,335

1.6

28,811

14.7

34,363

14.6

44,727

19.9

(ii)

Bank credit to commercial sector (a+b)

4,90,363

4,97,212

-3,502

-0.7

190

—

6,848

1.4

63,712

14.7

(a) Reserve Bank

12,226

9,594

-4,539

-32.1

14

0.2

-2,632

-21.5

1,394

17.0

(b) Other Banks

4,78,138

4,87,618

1,037

0.2

176

—

9,480

2.0

62,318

14.7

(iii)

Net foreign exchange assets of banking sector

1,64,362

1,69,986

-231

-0.1

5,747

4.2

5,624

3.4

26,145

18.2

(iv)

Government's currency liabilities to the public

3,846

3,846

—

—

209

6.2

—

—

285

8.0

(v)

Banking sector's net non-monetary liabilities

other than time deposits

73,519

63,203

-4,035

-6.0

-16,673

-19.8

-10,316

-14.0

-4,147

-6.2

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

60,455

62,636

-4,547

-6.8

10,583

24.5

2,181

3.6

8,770

16.3

@:

Includes Rs. 17,945 crore on account of proceeds from Resurgent India Bonds (RIBs). Excluding these proceeds, the M3 growth rate in column 7 would work out to be 4.8 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.