(Rs. crore)

Outstanding

Variation over

as on

Item

Financial year so far

1998

1999

Fortnight

1997-98

1998-99

Year

Mar. 31#

Feb. 12#

Amount

%

Amount

%

Amount

%

Amount

%

1

2

3

4

5

6

7

8

9

10

11

M₃

8,25,389

9,44,123

6,642

0.7

87,486

12.5

1,18,733

14.4

1,54,789

19.6

Components (i+ii+iii+iv)

(i)

Currency with the Public

1,45,182

1,70,204

5,158

3.1

15,288

11.6

25,021

17.2

22,829

15.5

(ii)

Demand deposits with banks

1,18,435

1,17,191

-860

-0.7

-2,918

-2.8

-1,245

-1.1

14,775

14.4

(iii)

Time deposits with banks

5,58,167

6,53,633 @

2,381

0.4

75,345

16.3

95,466

17.1

1,17,055

21.8

(iv)

"Other" deposits with Reserve Bank

3,604

3,095

-37

-229

-509

130

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

(i)

Net bank credit to Government (a+b)

3,30,619

3,86,672

3,984

1.0

29,125

10.1

56,053

17.0

68,927

21.7

(a) Reserve Bank

1,35,160

1,57,068

5,272

3,554

21,908

29,333

(b) Other Banks

1,95,460

2,29,604

-1,288

25,571

34,144

39,594

(ii)

Bank credit to commercial sector (a+b)

4,32,190

4,63,663

1,220

0.3

38,458

10.2

31,473

7.3

48,898

11.8

(a) Reserve Bank

8,186

9,497

1,096

1,675

1,311

1,575

(b) Other Banks

4,24,004

4,54,166

124

36,783

30,162

47,323

(iii)

Net foreign exchange assets of banking sector

1,26,569

1,40,911

926

0.7

11,631

11.0

14,341

11.3

23,784

20.3

(iv)

Government'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

50,684

-512

-7,961

-16,425

-12,849

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

43,219

60,708

-71

6,875

17,490

18,649

@ : 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 17.3 per cent.