(Rs. crore)

Outstanding

Variation over

as on

Item

Financial year so far

1999

Fortnight

1998-99

1999-2000

Year

Mar. 31#

July 30#

Amount

%

Amount

%

Amount

%

Amount

%

1

2

3

4

5

6

7

8

9

10

11

M₃

9,66,149 *

10,17,016

615

0.1

37,836 *

4.6

50,867 *

5.3

1,58,896 *

18.5

Components (i+ii+iii+iv)

(i)

Currency with the Public

1,70,119

1,76,604

-6,274

-3.4

4,393

3.0

6,485

3.8

26,207

17.4

(ii)

Demand deposits with banks

1,30,267

1,27,452

221

0.2

-2,981

-2.5

-2,815

-2.2

12,497

10.9

(iii)

Time deposits with banks

6,61,952

7,08,122@

6,715

1.0

35,698

6.5

46,170

7.0

 1,19,621

 20.3

(iv)

"Other" deposits with Reserve Bank

3,812

4,838

-47

-1.0

727

20.5

1,026

26.9

571

13.4

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

(i)

Net bank credit to Government (a+b)

3,86,672

4,18,717

-475

-0.1

36,440

11.0

32,045

8.3

51,686

14.1

(a) Reserve Bank

1,52,539

1,56,263

-2,736

-1.7

15,512

11.5

3,724

2.4

5,590

3.7

(b) Other Banks

2,34,133

2,62,455

2,261

0.9

20,927

10.7

28,321

12.1

46,095

21.3

(ii)

Bank credit to commercial sector (a+b)

4,86,942

4,94,508

-3,871

-0.8

130

—

7,565

1.6

61,640

14.2

(a) Reserve Bank

12,226

9,231

-2,614

-22.1

284

3.5

-2,995

-24.5

762

9.0

(b) Other Banks

4,74,717

4,85,277

-1,256

-0.3

-154

—

10,560

2.2

60,878

14.3

(iii)

Net foreign exchange assets of banking sector

1,48,633

1,55,554

2,349

1.5

-907

-0.7

6,922

4.7

29,892

23.8

(iv)

Government's currency liabilities to the public

3,705

3,846

—

—

170

5.1

141

3.8

324

9.2

(v)

Banking sector's net non-monetary liabilities

other than time deposits

59,803

55,609

-2,611

-4.5

-2,003

-2.7

-4,193

-7.0

-15,355

-21.6

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

60,464

67,065

2,439

3.8

15,081

34.8

6,601

10.9

8,702

14.9

@ :

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.

* :

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). The revision is in respect of pension and provident funds with commercial banks which are classified as other demand and time liabilities and includes those banks which have reported such changes so far.