(Rs. crore)

Outstanding

Variation over

as on

Item

1998

1999

Fortnight

1997-98

1998-99

Year

Mar. 31#

Mar. 12#

Amount

%

Amount

%

Amount

%

Amount

%

1

2

3

4

5

6

7

8

9

10

11

M3

8,25,389

9,53,723

8,217

0.9

1,02,103

14.5

1,28,333

15.5

1,49,772

18.6

Components (i+ii+iii+iv)

(i)

Currency with the Public

1,45,182

1,73,232

5,212

3.1

17,729

13.4

28,050

19.3

23,416

15.6

(ii)

Demand deposits with banks

1,18,435

1,18,610

696

0.6

-284

-0.3

175

0.1

13,560

12.9

(iii)

Time deposits with banks

5,58,167

6,59,039 @

2,692

0.4

85,426

18.5

1,00,872

18.1

1,12,380

20.6

(iv)

"Other" deposits with Reserve Bank

3,604

2,841

-383

-767

-763

415

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

(i)

Net bank credit to Government (a+b)

3,30,619

3,87,732

912

0.2

39,060

13.5

57,113

17.3

60,053

18.3

(a) Reserve Bank

1,35,160

1,56,055

1,685

13,167

20,895

18,707

(b) Other Banks

1,95,460

2,31,678

-773

25,893

36,218

41,346

(ii)

Bank credit to commercial sector (a+b)

4,32,190

4,68,669

3,540

0.8

44,225

11.8

36,479

8.4

48,136

11.4

(a) Reserve Bank

8,186

8,753

249

1,704

567

801

(b) Other Banks

4,24,004

4,59,916

3,291

42,521

35,911

47,334

(iii)

Net foreign exchange assets of banking sector

1,26,569

1,41,801

459

0.3

15,075

14.3

15,231

12.0

21,229

17.6

(iv)

Government's currency liabilities to the public

3,120

3,561

—

386

441

256

(v)

Banking sector's net non-monetary liabilities

other than time deposits

67,110

48,040

-3,306

-3,356

-19,070

-20,098

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

43,219

60,101

169

9,380

16,883

15,537

@ : 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 16.4 per cent.