Annual Report

(Amount in Rupees crore)

Variations

Item

Outstanding

April-June

as on

2004-05

2003-04

March 31,

2005-06

2004-05

2005

Absolute

Percent

Absolute

Percent

Absolute

Percent

Absolute

Percent

1

2

3

4

5

6

7

8

9

10

22,53,938

2,48,262

12.4

2,87,716

16.7

1,05,850

4.7

69,831

3.5

^{Broad Money (M}3⁾

(C.1+C.2+C.3 = S.1+S.2+S.3+S.4-S.5)

(22,50,369)

(2,44,693)

(12.2)

Components

C.1.

Currency with the Public

3,55,768

40,797

13.0

43,390

16.0

19,671

5.5

14,540

4.6

C.2.

Aggregate Deposits with Banks (a+b)

18,91,692

2,06,106

12.2

2,42,450

16.8

87,737

4.6

56,754

3.4

a)

Demand Deposits

2,84,017

25,391

9.8

59,869

30.1

11,401

4.0

-14,038

-5.4

b)

Time Deposits

16,07,675

1,80,716

12.7

1,82,581

14.7

76,337

4.7

70,792

5.0

(16,04,106)

(1,77,147)

(12.4)

C.3.

‘Other’ Deposits with the RBI

6,478

1,359

26.5

1,877

57.9

-1,558

-24.0

-1,463

-28.6

6,46,263

67,547

11.7

1,05,135

22.2

29,514

4.6

-961

-0.2

^{Narrow Money (M}1^{)[C.1+C.2(a)+C.3]}

Sources

S.1.

Net Bank Credit to

7,57,906

15,002

2.0

66,381

9.8

6,980

0.9

12,986

1.7

Government (A+B)

(7,45,713)

(2,809)

(0.4)

A.

Net RBI Credit to

Government (a+b)

-17,975

-62,882

-75,772

9,275

-34,143

a. Net RBI Credit to

Central Government

-23,258

-60,177

-76,065

14,600

-30,029

b. Net RBI Credit to

State Governments

5,283

-2,705

-33.9

293

3.8

-5,324

-100.8

-4,114

-51.5

B.

Other Banks’ Credit to

Government

7,75,880

77,884

11.2

1,42,153

25.6

-2,295

-0.3

47,129

6.8

S.2.

Bank Credit to

12,80,540

2,64,389

26.0

1,17,170

13.0

64,221

5.0

38,057

3.7

Commercial Sector (a+b)

(12,47,858)

(2,31,707)

(22.8)

a)

RBI’s Credit to

Commercial Sector

1,390

-672

-32.6

-987

-32.4

0

0.0

-172

-8.3

b)

Other Banks’ Credit to

Commercial Sector

12,79,150

2,65,061

26.1

1,18,157

13.2

64,221

5.0

38,229

3.8

S.3.

Net Foreign Exchange Assets of

Banking Sector (a+b)

6,49,255

1,22,669

23.3

1,32,872

33.7

-14,595

-2.2

49,206

9.3

a)

RBI’s Net Foreign

Exchange Assets

6,12,790

1,28,377

26.5

1,26,169

35.2

-14,595

-2.4

57,525

11.9

b)

Other Banks’ Net

Foreign Exchange Assets

36,465

-5,709

-13.5

6,702

18.9

-8,319

-19.7

S.4.

Government’s Currency

Liabilities to the Public

7,448

152

2.1

225

3.2

47

0.6

37

0.5

S.5.

Banking Sector’s Net

Non-Monetary Liabilities (a+b)

4,41,210

1,53,949

53.6

28,931

11.2

-49,196

-11.2

30,454

10.6

a)

Net Non-Monetary

Liabilities of RBI

1,19,776

12,191

11.3

-19,557

-15.4

-11,420

-9.5

27,245

25.3

b)

Net Non-Monetary Liabilities

of Other Banks (residual)

3,21,434

1,41,758

78.9

48,488

37.0

-37,776

-11.8

3,209

1.8

Memo Items : Select Monetary Ratios

1.

Multiplier

4.6

^M3

2.

Bank Reserves to Aggregate

Deposits Ratio

6.7

3.

Currency to Aggregate Deposits Ratio

18.8

Note :1. Data provisional.
2 Revised in line with the new accounting standards and consistent with the methodology suggested by the
Working Group on Money Supply : Analytics and Methodology of Compilation (June 1998).
3 Time deposits and broad money include India Millenniun Deposits (IMDs) worth Rs.25,662 crore since
November 17, 2000 and the impact of redemption of Resurgent India Bonds (RIBs) of Rs. 22,693 crore since
October 1, 2003.
4. Figures in parentheses exclude the impact of conversion of a non-banking entity into banking entity from October 11, 2004.