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Weekly Statistical Supplement


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Date : Nov 14, 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. 23#   Amount % Amount % Amount % Amount %

  1 2 3   4 5 6 7 8 9 10 11

M3   8,25,389 9,15,074 @ 6,306 0.7 57,518 8.2 89,685 10.9 1,55,708 20.5
Components (i+ii+iii+iv)                      
(i) Currency with the Public 1,45,182 1,59,465 2,960 1.9 8,510 6.4 14,282 9.8 18,868 13.4
(ii) Demand deposits with                      
  banks 1,18,435 1,15,669 6 - -4,142 -3.9 -2,767 -2.3 14,477 14.3
(iii) Time deposits with banks 5,58,167 6,36,375 @ 3,298 0.5 52,750 11.4 78,208 78,208 1,22,391 23.8
(iv) "Other" deposits with                      
  Reserve Bank 3,604 3,566 42   401 -38 -28    
Sources (i+ii+iii+iv-v)                      
(i) Net bank credit to                      
  Government (a+b) 3,30,619 3,70,781 -1,973 -0.5 26,337 9.1 40,162 12.1 55,825 17.7
  (a) Reserve Bank 1,35,160 1,48,870 2,700   -8,569   13,710   33,257  
  (b) Other Banks 1,95,460 2,21,912 -4,673   34,906   26,452   22,567  
                         
(ii) Bank credit to commercial                      
  sector (a+b) 4,32,190 4,46,996 2,715 0.6 9,176 2.4 14,806 3.4 61,512 16.0
  (a) Reserve Bank 8,186 8,228 11   1,361   43   620  
  (b) Other Banks 4,24,004 4,38,768 2,704   7,815   14,764   60,892  
                         
(iii) Net foreign exchange assets                      
  of banking sector 1,26,569 1,36,041 505 0.4 13,892 13.2 9,472 7.5 16,654 13.9
(iv) Government's currency                      
  liabilities to the public 3,120 3,522 -   257   402   347  
(v) Banking sector's net non-                      
  monetary liabilities                      
  other than time deposits 67,110 42,267 -5,060   -7,857   -24,842   -21,370  
  of which : Net non-monetary                      
  liabilities of R.B.I. 43,219 57,440 -62   -1,596   14,221   23,852  

@ : 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 18.1 per cent.


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