(Rs. crore)

Outstanding as on

Variation over

Item

Financial year so far

1998

1999

Fortnight

1997-98

1998-99

Year

Mar. 31#

Jan. 29#

Amount

%

Amount

%

Amount

%

Amount

%

1

2

3

4

5

6

7

8

9

10

11

M₃

8,25,389

9,37,481

2,814

0.3

79,832

11.4

1,12,091

13.6

1,55,801

19.9

Components (i+ii+iii+iv)

(i)

Currency with the Public

1,45,182

1,65,046

-2,110

-1.3

11,217

8.5

19,864

13.7

21,742

15.2

(ii)

Demand deposits with banks

1,18,435

1,18,051

2,035

1.8

-1,349

-1.3

-385

-0.3

14,065

13.5

(iii)

Time deposits with banks

5,58,167

6,51,252 @

3,102

0.5

69,669

15.1

93,085

16.7

1,20,350

22.7

(iv)

"Other" deposits with Reserve Bank

3,604

3,132

-212

295

-472

-357

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

(i)

Net bank credit to Government (a+b)

3,30,619

3,82,688

52

—

29,983

10.4

52,068

15.7

64,085

20.1

(a) Reserve Bank

1,35,160

1,51,796

-1,444

6,388

16,636

21,226

(b) Other Banks

1,95,460

2,30,892

1,496

23,595

35,432

42,858

(ii)

Bank credit to commercial sector (a+b)

4,32,190

4,62,443

-3,345

-0.7

35,834

9.5

30,253

7.0

50,302

12.2

(a) Reserve Bank

8,186

8,401

-4,185

1,558

215

596

(b) Other Banks

4,24,004

4,54,042

839

34,276

30,038

49,706

(iii)

Net foreign exchange assets of banking sector

1,26,569

1,39,985

207

0.1

13,331

12.6

13,416

10.6

21,158

17.8

(iv)

Gover nment's currency liabilities to the public

3,120

3,561

—

312

441

331

(v)

Banking sector's net non-monetary liabilities

other than time deposits

67,110

51,196

-5,901

-372

-15,913

-19,926

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

43,219

60,779

-398

7,144

17,561

18,451

@ : 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 17.6 per cent.