Vol. 14, No. 1 (Rs. crore) Item19971998Variation over Dec. 19Dec. 11Dec. 18WeekYear 123456Notes in circulation1,45,8971,64,6411,63,933-70818,036 Notes issued1,45,9231,64,6761,63,965-71118,042 Notes held in Banking Department263432-26Deposits : Central Government505150-1— State Governments121210-2-2 Scheduled Commercial Banks56,60172,85764,325-8,5327,724 Scheduled State Co-operative Banks850781774-7-76 Other Banks9011,1391,139—238 Others6,1945,5886,183595-11 Other liab

Variation over As on Dec. 24, 1998WeekEnd-March 1998End-December 1997YearItem Rs. CroreUS$ Mn.Rs. CroreUS$ Mn.Rs. CroreUS$ Mn.Rs. CroreUS$ Mn.Rs. CroreUS$ Mn.1 234567891011Total Reserves1,27,32429,96779022111,41960020,0292,61218,6002,204of which : (a) Foreign Currency Assets1,14,00826,84358317211,50186820,0302,87819,1422,672 (b) Gold12,9633,041——-431-350-50-272-590-473 (c) SDRs353832074934982496485Note:1. Foreign currency assets expressed in US dollar terms include th

(Rs. crore) Outstanding Item as on Variation over 1998 Financial year so far Dec. 18# Fortnight1997-981998-99Year 1 2 3456Liabilities to the Banking System Demand and time deposits from banks28,672-6383,4114,9907,865 Borrowings from Banks(1)11,3337485,3784,1732,697 Other demand and time liabilities(2)52971468-916-478Liabilities to Others Aggregate deposits6,79,894@19053,01174,4841,21,284 (-)(10.5)(12.3)(21.7) Demand99,28661-2,873-3,22711,549 Time5,80,608@12855,88477,7

(Per cent per annum) 19971998Item / week endedDec. 19Nov. 20Nov. 27Dec. 4Dec. 11Dec. 181234567Bank Rate9.009.009.009.009.009.00I.D.B.I.113.5014.0014.0014.0014.0014.00Prime Lending Rate212.5.13.012.75-13.012.75-13.012.75-13.012.75-13.012.75-13.0Deposit Rate39.0-11.59.0-11.59.0-11.59.0-11.59.0-11.59.0-11.5Call Money Rate (Low / High)40.75/30.05.50/ 9.157.10/9.005.75/8.107.90/8.205.60/9.001. Medium Term Lending Rate (MTLR). 2. Prime Lending Rate relates to five major ban

(Rs. crore) 1998-991997-98 OutstandingVariationsOutstandingVariations as on(3) - (2)as on(6) - (5) Item1998 1997 Mar. 27Dec. 18 Mar. 28Dec. 19 12345671.Bank Credit3,24,0793,38,95314,8742,78,4012,91,11112,710 (4.6) (4.6) A.Food Credit12,48515,9873,5027,59712,0264,429 B.Non-Food Credit3,11,5943,22,96611,3722,70,8052,79,0858,280 (3.6) (3.1) 2.Investments £ 33,08443,692@10,60819,41131,760+12,349 A.Commercial Paper2,0664,4812,4166525,7755,123 B.Bonds/Debentures/Preference

Foreign 1997 1998 1997 1998 Currency Dec. 26Dec. 21Dec. 22Dec. 23Dec. 24 Dec. 25+Dec. 26*Dec. 21Dec. 22Dec. 23Dec. 24Dec. 25+1234567891011121314 RBI's Reference Rate (Rs. per U.S. Dollar)Foreign Currency per Rs. 100@ 39.240042.550042.530042.550042.5400(Based on Middle Rates) FEDAI Indicative Rates (Rs. per Foreign Currency) U.S. Buying39.220042.540042.525042.540042.53502.54912.35022.35132.35022.3507DollarSelling39.240042.550042.535042.550042.5450 Pound Buying65.517571

(Rs. crore) Outstanding Variation over as on Item Financial year so far 1998 Fortnight1997-981998-99Year Mar. 31#Dec. 4# Amount%Amount%Amount%Amount% 123 4567891011M3 8,25,3899,21,6534,0330.470,48610.096,26411.71,49,31919.3Components (i+ii+iii+iv) (i)Currency with the Public1,45,1821,61,1082,3891.513,80310.415,92511.015,21810.4(ii)Demand deposits with banks1,18,4351,14,429-1,176-1.0-3,463-3.3-4,007-3.412,55812.3(iii)Time deposits with banks5,58,1676,42,580@2,9410.560,

(Rs. crore) OutstandingVariation over as on Item Financial year so far 1998Week1997-981998-99Year Mar. 31#Dec. 18#Amount%Amount%Amount%Amount% 1234567891011Reserve Money2,26,2332,37,759-8,653-3.511,7965.911,5265.125,97712.3 Components (i+ii+iii) (i)Currency in circulation1,50,8231,67,455-708-0.411,9088.716,63111.018,32912.3 of which : cash with banks5,6413,730 * (ii)Bankers' deposits with RBI71,80666,238-8,539-11.4-1,223-2.1-5,568-7.87,88613.5 (iii)"Other" deposits wi

(Rs. crore)Date ofDate ofNotifiedCompetitiveDevolvementNon-Compe-TotalWeightedImplicit YieldAmount Outstan-AuctionIssueAmountBidson PDs andtitive BidsIssueAverageat Cut-offding as on the AcceptedRBIAccepted(4+5+6)PricePriceDate of Issue (Face Value)(Face Value)(Face Value)(Face Value) (per cent)(Face Value)12345678910Jan. 2, ’98Jan. 3, ’98— 35 100 — 135 99.73 7.0390 370 Apr. 3, ’98Apr. 4, ’98100 100 — — 100 99.72 7.3004 235 Jul. 3, '98Jul. 4, '98100 100 — — 100 99.77

(Rs. crore)Date ofDate ofNotifiedCompetitiveDevolvementNon-Compe-TotalWeightedImplicit YieldAmount Outstan-AuctionIssueAmountBidson PDs andtitive BidsIssueAverageat Cut-offding as on the AcceptedRBIAccepted(4+5+6)PricePriceDate of Issue (Face Value)(Face Value)(Face Value)(Face Value) (per cent)(Face Value)12345678910Jan. 2, ’98Jan. 3, ’98200 — — 200 200 98.23 7.2076 3,650 Apr. 3, ’98Apr. 4, ’98100 10 90 25 125 98.20 7.3320 1,525 Jul. 3, '98Jul. 4, '98100 20 80 50 150

(Rs. crore)Date ofDate ofNotifiedBidsDevolvementTotalWeightedImplicit YieldAmount Outstan-AuctionIssueAmountAcceptedon PDs andIssueAverageat Cut-offding as on the RBI(4+5)PricePriceDate of Issue (Face Value)(Face Value)(Face Value) (Per cent)(Face Value)123456789Jan. 14, ’98Jan. 16, ’98— — — — — — 17,517 @Apr. 7, ’98 Apr. 11, ’98100 6 94 100 92.61 7.9797 14,339Jul. 1, '98 Jul. 3, '98100 — 100 100 92.61 7.9797 10,153 @Oct. 7, '98 Oct. 9, '98400 400 — 400 90.36 10.7174

(Rs. crore)Fortnight endedTotal AmountIssued duringRate of Interest Outstanding #the fortnight #(Per cent)@12 34Oct. 10, 1997 7,572 631 7.50 — 12.00 Jan. 2, 1998 6,876 811 6.50 — 11.75 Apr. 10, 1998 14,584 627 8.25 — 24.00 Jul. 17, 1998 7,287 807 8.00 — 12.50 Sep. 11, 1998 5,772 981 7.75 — 13.50 Sep. 25, 1998 5,686 530 8.25 — 12.60 @ : Effective interest rate range per annum.

(Rs. crore)Fortnight endedTotal AmountReported duringRate of Interest Outstandingthe fortnight(Per cent)@1234Jan. 15, 19985,249 1,205 8.05 — 11.75Apr. 15, 19981,030 338 11.75 — 18.00Jul. 15, 19983,912 772 8.20 — 13.50Oct. 15, 19984,803 1,101 9.50 — 13.40Nov. 30, 19985,534 979 9.35 — 13.00Dec. 15, 19985,679 9029.45 — 12.50@ : Typical effective discount rate range per annum on issues during the fortnight.

19971998Percentage Variation overItem / Week endedWeightDec. 13Oct. 17*Dec. 12#WeekMonthEndYear March 123456789ALL COMMODITIES100.00333.7358.8357.1-0.2-0.75.97.0Primary Articles32.30342.9393.0392.5-0.6-1.212.914.5 (i)Fruits and Vegetables4.09363.9576.2511.1-3.1-10.440.340.5Fuel, Power, Light and Lubricants10.66377.4382.1382.1—0.1-0.51.2Manufactured Products57.04320.4335.0332.4—-0.53.13.7 (i)Sugar, Khandsari and Gur4.06304.1325.3294.7-2.0-6.8-2.5-3.1 (ii)Edible Oils2.4

19971998 Dec. 24Dec. 21Dec. 22Dec. 23Dec. 24Dec. 25+1234567BSE SENSEX (1978-79=100)3,607.692,973.372,976.582,962.502,963.45 S & P CNX NIFTY (3.11.1995=1000)1,054.15859.30857.30858.70861.10 Note : NSE - 50, i.e. Nifty has since been rechristened as 'S & P CNX Nifty' with effect from July 28, 1998.+ : Market closed

(Rs. crore) Fortnight Ended Jul. 3, '98Jul. 17, '98Jul. 31, '98Aug. 14, '98Aug. 28, '98Sep. 11, '98Sep. 25, '98 123456781.Banks a)Borrowing9,5399,1029,1149,6298,4729,4859,158 b)Lending6,2947,1277,5507,2566,0245,1105,444 2.Primary Dealers a)Borrowing4,9784,4654,9414,8143,1433,0383,824 b)Lending2,0791,6971,6461,5849981,2561,195 3.Non-Bank Institutions a)Lending5,9184,8034,8335,6494,4754,6644,760

(Rs. crore) Week Ended ItemsNov. 20, '98Nov. 27, '98Dec. 4, '98Dec. 11, '98Dec. 18, '98Dec. 25, '98 1234567I.Outright Transactions a.Govt. of India Dated Securities4,0145,4933,8416,5015,6842,823 b.State Government Securities883817113027 c.14 - Day Treasury Bills—264115100173194 d.91 - Day Treasury Bills2,7742,1141,9431,4151,511892 e.364 -Day Treasury Bills1521,281320378495134II.RBI*49265630374934720@ : Excluding Repo Transactions.* : RBI's sales and purchases include

(US$ Million) MerchantInter-bank FCY/INRFCY/FCYFCY/INRFCY/FCY SpotForwardForwardSpotForwardForwardSpotSwapForwardSpotSwapForward Cancel- Cancel- Position Date lation lation 12345678910111213Purchases Dec. 14, 1998357 80 4022 44 21463661 5232316813Dec. 15, 1998204 32 3114 73 62414430 8640511227Dec. 16, 1998183 34381175 6926841532 40310618Dec. 17, 1998233 46 791379 35385359 4847315920Dec. 18, 1998224 61474 73 30402575 343811266 Sales Dec 14, 1998370115 1911 3921439484 6

(Rs. crore) Week Ended Nov. 21, '98Nov. 28, '98Dec. 5, '98Dec. 12, '98Dec. 19. '98Dec. 26, '981234567Amount45.4629.407.8611.7724.2835.31Source: National Stock Exchange of India Ltd.

19971998ItemAs on FridayDec.26Nov.27Dec.4Dec.11Dec.18 Dec.25 12345678Standard GoldOpening4,1004,3304,3054,3304,3004,225 (Rs. per 10 grams)Closing4,0804,3304,2954,3254,3004,220 Silver (999.0 fineness)Opening8,5407,4457,2757,3207,3957,375 (Rs. per kilogram)Closing8,4807,4757,2507,3057,4007,375Note : In case Friday is a holiday, prices relate to the preceding working day.Source : Bombay Bullion Association Ltd.

(Rs. crore)HoldersDecember 25, 1998Variation in Total Treasury Bills Treasury Bills of Different MaturitiesTotalOver theOver End 14 day14 day91 Day364 Day(2+3+4+5)WeekMarch (Auction)(Intermediate)(Auction)(Auction) 12345678 Reserve Bank of India39—80 —119 115 -508 Banks 73—3,8044,2408,117 -5-5,203 State Governments4003,2801,100—4,780306-3,104 Others 89 350 895 1,0752,409 65-1,606

(Rs. crore) Gross AmountRepaymentsNet Amount Raised Raised uptoupto1998-991997-98 December 25, 1998December 25, 1998(upto(upto December 25, 1998)December 26, 1997)12345Total75,7539,80365,95026,884

(Rs. crore) For the Week EndedFor the Week Ended December 18, 1998 December 25, 1998 ItemsAmountYTM (%PA)AmountYTM (%PA) Indicative Indicative MinimumMaximum MinimumMaximum1 234567I.Outright Transactions 1.Govt. of India Dated Securities Maturing in the year 1998-991898.894910.0163579.305310.1043 1999-003819.696611.10363189.392310.9043 2000-0149011.121311.582542511.125511.4498 2001-0290611.473711.537922411.479611.5374 2002-03$10311.647311.67064011.651711.6559 2003-045