(Rs. crore)

Outstanding

Variation over

as on

Item

1999

Fortnight

1998-99

1999-2000

Year

Mar. 31#

Sep. 24#

Amount

%

Amount

%

Amount

%

Amount

%

1

2

3

4

5

6

7

8

9

10

11

M3

9,72,204 *

10,40,411

8,080

0.8

74,090 *

9.0

68,206 *

7.0

1,44,989 *

16.2

Components (i+ii+iii+iv)

(i)

Currency with the Public

1,69,382

1,76,875

-4,103

-2.3

5,909

4.1

7,492

4.4

25,387

16.8

(ii)

Demand deposits with banks

1,35,111

1,29,541

4,492

3.6

-1,015

-0.9

-5,570

-4.1

11,831

10.1

(iii)

Time deposits with banks

6,63,890

7,29,456@

7,431

1.0

69,014

12.5

65,566

9.9

1,06,954

17.2

(iv)

"Other" deposits with Reserve Bank

3,821

4,540

260

6.1

181

5.1

719

18.8

818

22.0

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

(i)

Net bank credit to Government (a+b)

3,87,151

4,22,843

-3,229

-0.8

36,671

11.1

35,691

9.2

55,575

15.1

(a) Reserve Bank

1,52,539

1,50,977

-4,846

-3.1

1,260

0.9

-1,562

-1.0

14,558

10.7

(b) Other Banks

2,34,612

2,71,865

1,617

0.6

35,411

18.1

37,253

15.9

41,017

17.8

(ii)

Bank credit to commercial sector (a+b)

4,90,363

5,02,854

1,551

0.3

6,934

1.6

12,490

2.5

62,610

14.2

(a) Reserve Bank

12,226

9,778

-2,588

-20.9

-4

—

-2,448

-20.0

1,596

19.5

(b) Other Banks

4,78,138

4,93,076

4,140

0.8

6,937

1.6

14,939

3.1

61,015

14.1

(iii)

Net foreign exchange assets of banking sector

1,64,362

1,69,907

-54

—

15,870

11.5

5,544

3.4

15,942

10.4

(iv)

Government's currency liabilities to the public

3,846

4,079

—

—

244

7.3

233

6.1

483

13.4

(v)

Banking sector's net non-monetary liabilities

other than time deposits

73,519

59,272

-9,812

-14.2

-14,371

-17.1

-14,247 -19.4

-10,380

-14.9

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

60,455

64,277

677

1.1

12,665

29.3

3,821

6.3

8,329

14.9

@:

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 6.8 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.