(Rs. crore)

Outstanding

Variation over

as on

Item

1999

Fortnight

1998-99

1999-2000

Year

Mar. 31#

Sep. 10#

Amount

%

Amount

%

Amount

%

Amount

%

1

2

3

4

5

6

7

8

9

10

11

M3

9,72,204 *

10,30,382

2,898

0.3

62,981 *

7.7

58,178 *

6.0

1,46,070 *

16.5

Components (i+ii+iii+iv)

(i)

Currency with the Public

1,69,382

1,80,448

3,774

2.1

7,746

5.3

11,065

6.5

27,123

17.7

(ii)

Demand deposits with banks

1,35,111

1,25,134

-2,061

-1.6

-7,650

-6.4

-9,977

-7.4

14,059

12.7

(iii)

Time deposits with banks

6,63,890

7,20,309@

1,224

0.2

62,796

11.3

56,420

8.5

1,04,025

16.9

(iv)

"Other" deposits with Reserve Bank

3,821

4,491

-39

-0.9

88

2.5

670

17.5

863

23.8

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

(i)

Net bank credit to Government (a+b)

3,87,151

4,26,056

6,413

1.5

39,679

12.0

38,904

10.0

55,780

15.1

(a) Reserve Bank

1,52,539

1,55,824

5,156

3.4

11,509

8.5

3,285

2.2

9,154

6.2

(b) Other Banks

2,34,612

2,70,232

1,257

0.5

28,170

14.4

35,620

15.2

46,625

20.9

(ii)

Bank credit to commercial sector (a+b)

4,90,363

5,00,155

2,943

0.6

697

0.2

9,791

2.0

66,148

15.2

(a) Reserve Bank

12,226

12,366

2,772

28.9

-18

-0.2

140

1.1

4,199

51.4

(b) Other Banks

4,78,138

4,87,789

171

—

715

0.2

9,651

2.0

61,950

14.5

(iii)

Net foreign exchange assets of banking sector

1,64,362

1,69,961

-26

—

11,656

8.4

5,598

3.4

20,210

13.5

(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

69,635

6,432

10.2

-10,740

-12.8

-3,884

-5.3

-3,647

-5.0

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

60,455

63,388

752

1.2

11,918

27.5

2,933

4.9

8,188

14.8

@:

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 5.5 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.