(Rs. crore)

Outstanding

Variation over

as on

Item

Financial year so far

1999

Fortnight

1998-99

1999-2000

Year

Mar. 31#

July 16#

Amount

%

Amount

%

Amount

%

Amount

%

1

2

3

4

5

6

7

8

9

10

11

M3

9,66,149 *

10,16,401

2,422

0.2

37,653 *

4.6

50,252 *

5.2

  1,58,464 *

18.5

Components (i+ii+iii+iv)

(i)

Currency with the Public

1,70,119

1,82,878

704

0.4

9,272

6.4

12,759

7.5

27,602

17.8

(ii)

Demand deposits with banks

1,30,267

1,27,231

-336

-0.3

-4,174

-3.5

-3,036

-2.3

13,469

11.8

(iii)

Time deposits with banks

6,61,952

7,01,407@

2,515

0.4

31,601

5.7

39,455

6.0

1,17,003

20.0

(iv)

"Other" deposits with Reserve Bank

3,812

4,885

-461

-8.6

954

27.0

1,073

28.1

390

8.7

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

(i)

Net bank credit to Government (a+b)

3,86,672

4,19,192

3,355

0.8

37,189

11.2

32,520

8.4

51,412

14.0

(a) Reserve Bank

1,52,539

1,58,998

1,219

0.8

18,553

13.7

6,459

4.2

5,286

3.4

(b) Other Banks

2,34,133

2,60,194

2,135

0.8

18,636

9.5

26,061

11.1

46,126

21.5

(ii)

Bank credit to commercial sector (a+b)

4,86,942

4,98,379

4,040

0.8

1,381

0.3

11,436

2.3

64,259

14.8

(a) Reserve Bank

12,226

11,846

860

7.8

245

3.0

-380

-3.1

3,415

40.5

(b) Other Banks

4,74,717

4,86,533

3,180

0.7

1,136

0.3

11,816

2.5

60,844

14.3

(iii)

Net foreign exchange assets of banking sector

1,48,633

1,53,205

-643

-0.4

-752

-0.6

4,572

3.1

27,387

21.8

(iv)

Government's currency liabilities to the public

3,705

3,846

—

—

130

3.9

141

3.8

364

10.5

(v)

Banking sector's net non-monetary liabilities

other than time deposits

59,803

58,220

4,329

8.0

294

0.4

-1,582

-2.6

-15,042

-20.5

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

60,464

64,626

-411

-0.6

15,635

36.1

4,162

6.9

5,709

9.7

@ :

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.