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Weekly Statistical Supplement


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Date : Nov 07, 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# Oct. 9#   Amount % Amount % Amount % Amount %

  1 2 3   4 5 6 7 8 9 10 11

M3   8,25,389 9,08,768 @ 13,049 1.5 51,486 7.3 83,378 10.1 1,55,434 20.6
Components (i+ii+iii+iv)                      
(i) Currency with the Public 1,45,182 1,56,504   5,068 3.3 9,400 7.1 11,322 7.8 15,017 10.6
(ii) Demand deposits with                      
  banks 1,18,435 1,15,662   1,107 1.0 -6,462 -6.1 -2,773 -2.3 16,790 17.0
(iii) Time deposits with banks 5,58,167 6,33,077 @ 7,124 1.1 47,942 10.4 74,910 13.4 1,23,901 24.3
(iv) "Other" deposits with                      
  Reserve Bank 3,604 3,524   -249   605 -80 -275    
Sources (i+ii+iii+iv-v)                      
(i) Net bank credit to                      
  Government (a+b) 3,30,619 3,72,755   6,131 1.7 23,352 8.1 42,135 12.7 60,783 19.5
  (a) Reserve Bank 1,35,160 1,46,170   9,751   -8,947   11,010   30,936  
  (b) Other Banks 1,95,460 2,26,584   -3,620   32,299   31,125   29,847  
                         
(ii) Bank credit to commercial                      
  sector (a+b) 4,32,190 4,44,282   7,089 1.6 6,752 1.8 12,092 2.8 61,222 16.0
  (a) Reserve Bank 8,186 8,217   35   1,410   32   560  
  (b) Other Banks 4,24,004 4,36,064   7,053   5,342   12,060   60,662  
                         
(iii) Net foreign exchange assets                      
  of banking sector 1,26,569 1,35,536   916 0.7 13,337 12.6 8,967 7.1 16,703 14.1
(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 47,327   1,087   -7,830   -19,782   -16,337  
  of which : Net non-monetary                      
  liabilities of R.B.I. 43,219 57,502   1,605   -1,155   14,283   23,473  

@ : 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 18.3 per cent.


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