(Rs. crore)

Outstanding

Variation over

as on

Item

1998

1999

Fortnight

1997-98

1998-99

Year

Mar. 31#

Feb. 26#

Amount

%

Amount

%

Amount

%

Amount

%

1

2

3

4

5

6

7

8

9

10

11

M3

8,25,389

9,45,506

1,383

0.1

94,207

13.4

1,20,116

14.6

1,49,450

18.8

Components (i+ii+iii+iv)

(i)

Currency with the Public

1,45,182

1,68,019

-2,184

-1.3

12,748

9.7

22,837

15.7

23,184

16.0

(ii)

Demand deposits with banks

1,18,435

1,17,914

724

0.6

-92

-0.1

-521

-0.4

12,672

12.0

(iii)

Time deposits with banks

5,58,167

6,56,347

2,714

0.4

82,077

17.8

98,180

17.6

1,13,036

20.8

(iv)

"Other" deposits with Reserve Bank

3,604

3,225

130

-527

-380

557

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

(i)

Net bank credit to Government (a+b)

3,30,619

3,86,820

148

—

32,982

11.4

56,201

17.0

65,218

20.3

(a) Reserve Bank

1,35,160

1,54,369

-2,699

6,311

19,209

23,878

(b) Other Banks

1,95,460

2,32,451

2,847

26,671

36,991

41,341

(ii)

Bank credit to commercial sector (a+b)

4,32,190

4,65,129

1,465

0.3

44,298

11.8

32,939

7.6

44,523

10.6

(a) Reserve Bank

8,186

8,504

-993

1,670

319

587

(b) Other Banks

4,24,004

4,56,624

2,458

42,628

32,620

43,936

(iii)

Net foreign exchange assets of banking sector

1,26,569

1,41,342

431

0.3

13,116

12.4

14,772

11.7

22,730

19.2

(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

51,346

661

-3,426

-15,764

-16,723

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

43,219

59,932

-776

8,579

16,713

16,169

@ : 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 16.5 per cent.