(Rs.crore) 2003 2004 Variation Item Jul. 25 Jul. 16 Jul. 23# Week Year 1 2 3 4 5 6 Notes issued 2,88,762 3,33,841 3,30,232 –3,609 41,470 Notes in circulation 2,88,739 3,33,822 3,30,217 –3,605 41,478 Notes held in Banking Department 22 19 16 –3 –6 Deposits Central Government 101 100 101 1 — Market Stabilisation Scheme — 45,251 46,206 955 46,206 State Governments 41 41 41 — — Scheduled Commercial Banks 72,884 77,392 75,714 –1,678 2,830 Scheduled State Co-operative Banks

Variation over Item As on Jul. 23, 2004 Week End-March2004 End-December 2003 Year Rs.Crore US$ Mn. Rs.Crore US$ Mn. Rs.Crore US$ Mn. Rs.Crore US$ Mn. Rs.Crore US$ Mn. 1 2 3 4 5 6 7 8 9 10 11 Total Reserves 5,52,580 1,19,575 –6,491 –1,531 62,451 6,616 82,108 16,424 1,56,047 33,695 (a) Foreign Currency Assets 5,27,903 1,14,215 –6,455 –1,522* 61,688 6,767 82,671 16,598 1,53,084 33,015 (b) Gold 18,655 4,057 — — 439 –141 –570 –158 1,473 359 (c) SDRs 8 2 –1 — –2 — –5 –1 –17

(Rs. crore) Outstanding Variation over as on Item 2004 Fortnight Financial year so far Year-on-year Jul. 9# 2003-2004 2004-2005 2003 2004 1 2 3 4 5 6 7 Liabilities to the Banking System Demand and time deposits from Banks 38,172 –456 –2,256 1,339 215 –26 Borrowings from Banks (1) 14,246 –1,614 –1,178 –780 957 –4,214 Other demand and time liabilities(2) 2,139 –1,110 921 –488 1,017 –1,036 Liabilities to Others Aggregate deposits@ 15,68,671 8,739 63,864 64,255 1,44,748 2

(per cent per annum) 2003 2004 Item / week ended Jul. 18 Jun. 11 Jun. 18 Jun. 25 Jul. 2 Jul. 9 Jul. 16 1 2 3 4 5 6 7 8 Cash Reserve Ratio (per cent)(1) 4.50 4.50 4.50 4.50 4.50 4.50 4.50 Bank Rate 6.00 6.00 6.00 6.00 6.00 6.00 6.00 I.D.B.I.(2) 12.50 10.25 10.25 10.25 10.25 10.25 10.25 Prime Lending Rate(3) 10.50-11.50 10.25-11.00 10.25-11.00 10.25-11.00 10.25-11.00 10.25-11.00 10.25-11.00 Deposit Rate(4) 5.00-6.00 5.00-5.50 5.00-5.50 5.00-5.50 5.00-5.50 5.00-5.50 5.00

(Rs. crore) 2004 - 2005 2003 - 2004 Outstanding Variations Outstanding Variations as on (3) - (2) as on (6) - (5) 2004 2003 Item Mar. 19 Jul. 9 Mar. 21 Jul. 11 1 2 3 4 5 6 7 1. Bank Credit 8,40,785 8,82,312 41,527 7,29,215 7,25,680 –3,535 (4.9) (–0.5) A. Food Credit 35,961 43,457 7,496 49,479 43,588 –5,891 B. Non-Food Credit 8,04,824 8,38,854 34,031 6,79,736 6,82,092 2,356 (4.2) (0.3) 2. Investments £ 89,049 86,939 @ –2,109 92,854 88,808 + –4,046 A. Commercial Paper 3

Foreign 2003 2004 2003 2004 Currency Jul. 25 Jul. 19 Jul. 20 Jul. 21 Jul. 22 Jul. 23 Jul. 25 Jul. 19 Jul. 20 Jul. 21 Jul. 22 Jul. 23 1 2 3 4 5 6 7 8 9 10 11 12 13 14 RBI's Reference Rate (Rs. per Foreign Currency) Foreign Currency per Rs. 100@ U.S. Dollar 46.1600 45.9500 46.0600 46.0900 46.1800 46.2200 (Based on Middle Rates) Euro 52.8800 57.1500 57.3100 56.7700 56.5800 56.5000 FEDAI Indicative Rates (Rs. per Foreign Currency) U.S. {Buying 46.1600 45.9400 46.0500 46.0

(Rs. crore) Outstanding as on Variation over 2004 Fortnight Financial year so far Year-on-year 2003-2004 2004-2005 2003 2004 Item Mar. 31 Jul. 9# Amount % Amount % Amount % Amount % Amount % 1 2 3 4 5 6 7 8 9 10 11 12 13 20,03,102 20,88,458 11,442 0.6 92,771 5.4 85,355 4.3 1,94,682 12.0 2,77,727 15.3 M3 Components (i+ii+iii+iv) (i) Currency with the Public 3,15,493 3,30,235 1,197 0.4 18,433 6.8 14,743 4.7 31,710 12.3 40,221 13.9 (ii) Demand deposits with banks 2,56,03

(Rs. crore) Outstanding as on Variation over Financial year so far Year-on-year 2004 Week 2003-2004 2004-2005 2003 2004 Item Mar. 31 Jul. 23# Amount % Amount % Amount % Amount % Amount % 1 2 3 4 5 6 7 8 9 10 11 12 13 Reserve Money 4,36,512 4,24,344 –5,089 –1.2 9,691 2.6 –12,168 –2.8 37,038 10.8 45,592 12.0 Components (i+ii+iii) (i) Currency in circulation 3,27,028 3,37,529 –3,605 –1.1 13,441 4.8 10,501 3.2 34,925 13.4 41,615 14.1 (ii) Bankers' deposits with RBI 1,04,3

(Rs. crore) REPO REVERSE REPO Net injection(+) Repo Outstanding LAF period Bids Received Bids Accepted Cut-Off Bids Received Bids Accepted Cut-Off absorption(-) of Amount @ Date (Day(s)) Number Amount Number Amount Rate(%) Number Amount Number Amount Rate(%) liquidity (11-6) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Jul. 19, 2004 7 38 15,950 38 15,950 4.50 — — — — — –15,950 51,880 Jul. 20, 2004 7 41 12,505 41 12,505 4.50 — — — — — –12,505 51,705 Jul. 21, 2004 7 30 5,950 30 5,9

(Rs. crore) Date of Date of Notified Bids Received Bids Accepted Devolvement on Total Weigh- Implicit Amount Auction Issue Amount Number Total Face Value Number Total Face Value PDs/SDs* RBI Issue ted Yieldat Outstanding Com- Non- Com- Non- (8+9+ Average Cut-off as on the petitive Com- petitive Com- 10+11) Price Price Date of Issue petitive petitive (per cent) (FaceValue) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 2003-2004 Jan. 7 Jan. 9 500 35 892 — 17 500 — — — 500 98.96 4

(Rs. crore) Date of Date of Notified Bids Received Bids Accepted Devolvement on Total Weigh- Implicit Amount Auction Issue Amount Number Total Face Value Number Total Face Value PDs/SDs* RBI Issue ted Yieldat Outstanding Com- Non- Com- Non- (8+9+ Average Cut-off as on the petitive Com- petitive Com 10+11) Price Price Date of Issue petitive$ petitive$ (per cent) (FaceValue) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 2003-2004 Jan. 7 Jan. 9 1,000 33 1,350 3 25 1,000 3 — — 1,00

(Rs. crore) Fortnight Date Ended 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Jul.9, Jun. 26 Jun. 27 Jun. 28 Jun. 29 Jun. 30 Jul. 1 Jul. 2 Jul. 3 Jul. 4 Jul. 5 Jul. 6 Jul. 7 Jul. 8 Jul. 9 2004 79,498 1,58,997 2,36,574 3,16,955 3,97,337 4,76,040 5,48,529 6,21,355 6,94,181 7,66,159 8,43,908 9,17,322 9,91,937 10,61,911 Jul. 23, Jul. 10 Jul. 11 Jul. 12 Jul. 13 Jul. 14 Jul. 15 Jul. 16 Jul. 17 Jul. 18 Jul. 19 Jul. 20 Jul. 21 Jul. 22 Jul. 23 2004 69,897 1,39,795 2,14,628 2,90,909 3,6

(Rs. crore) Fortnightended Total Amount Issuedduring Rate of Interest Outstanding # the fortnight # (percent)@ 1 2 3 4 Jul. 11, 2003 2,242 44 4.45 — 6.25 Oct. 3, 2003 3,154 48 3.75 — 6.75 Jan. 9, 2004 4,457 713 3.87 — 5.31 Apr. 2, 2004 4,626 191 3.75 — 5.16 May 28, 2004 4,860 73 1.09 — 4.73 Jun. 11, 2004 5,065 191 4.70 — 5.00@: Effective interest rate range per annum.

(Rs. crore) Fortnightended Total Amount Reportedduring Rate of Interest Outstanding thefortnight (percent)@ 1 2 3 4 Jul. 15, 2003 7,069 1,142 5.15 — 6.80 Oct. 15, 2003 6,974 1,027 4.75 — 7.75 Jan. 15, 2004 9,525 1,542 4.63 — 6.00 Apr. 15, 2004 9,590 810 4.66 — 6.20 Jun. 30, 2004 10,910 1,094 4.60 — 6.20 Jul. 15, 2004 10,688 954 4.63 — 7.00@: Typical effective discount rate range per annum on issues during the fortnight.

2003 2004 Percentage Variation over Weight Jul. 12 May 15* Jul. 10# Week Month End Year Items / Week ended March 1 2 3 4 5 6 7 8 9 ALL COMMODITIES 100.00 173.3 182.0 184.6 0.1 0.7 2.4 6.5 Primary Articles 22.02 180.5 186.6 185.1 –0.1 –1.1 2.2 2.5 (i) Fruits and Vegetables 2.92 189.4 209.2 188.2 –0.5 –9.4 8.8 –0.6 Fuel, Power, Light and Lubricants 14.23 249.3 263.9 274.9 — 3.5 4.6 10.3 Manufactured Products 63.75 153.9 162.2 164.3 0.2 0.4 1.7 6.8 (i) Sugar, Khandsari a

2003 2004 Jul. 23 Jul. 19 Jul. 20 Jul. 21 Jul. 22 Jul. 23 1 2 3 4 5 6 7 BSE SENSEX (1978-79=100) 3577.89 4975.40 4957.88 4993.76 5054.29 5073.34 S & P CNX NIFTY (3.11.1995=1000) 1119.05 1571.60 1566.10 1581.40 1598.10 1601.60

(Rs. crore) WeekEnded Jun. 11, 2004 Jun. 18, 2004 Jun. 25, 2004 Jul. 2, 2004 Jul. 9, 2004 Jul. 16, 2004 Jul. 23, 2004 1 2 3 4 5 6 7 8 1. Banks (a) Borrowings 3,098 2,463 3,104 1,691 2,445 2,521 2,055 (b) Lendings 4,045 2,480 2,941 1,633 1,951 1,932 1,597 2. Primary Dealers (a) Borrowings 3,957 3,361 3,203 1,386 2,662 2,547 2,335 (b) Lendings 55 77 222 36 28 47 72 3. Non-Bank Institutions (a) Lendings 2,496 2,608 2,688 1,554 1,941 1,865 2,057 4. Total (a) Borrowings 7,

(Rs. crore) WeekEnded Items Jun. 18, 2004 Jun. 25, 2004 Jul. 2, 2004 Jul. 9, 2004 Jul. 16, 2004 Jul. 23, 2004 1 2 3 4 5 6 7 I. Outright Transactions (a) Govt. of India Dated Securities 40,449 38,987 29,201 41,912 19,364 25,557 (b) State Government Securities 2,197 1,299 671 952 1,269 1,610 (c) 91 – Day Treasury Bills 4,778 3,322 5,742 3,854 7,144 5,166 (d) 364 – Day Treasury Bills 2,057 4,879 3,862 2,746 1,880 2,456 II. RBI* — — 189 — 22 6@ :Excluding Repo Transaction

(US$ Million) Merchant Inter-bank FCY / INR FCY / FCY FCY / INR FCY / FCY Spot Forward Forward Spot Forward Forward Spot Swap Forward Spot Swap Forward Cancel- Cancel- PositionDate lation lation 1 2 3 4 5 6 7 8 9 10 11 12 13 Purchases Jul. 5, 2004 367 298 148 55 96 46 1201 1629 70 494 140 45 Jul. 6, 2004 475 378 129 33 51 32 1462 2457 105 630 328 6 Jul. 7, 2004 652 206 46 44 76 56 1273 1869 99 792 244 6 Jul. 8, 2004 472 226 90 25 42 32 1285 1578 121 768 214 11 Jul. 9,

(Rs. crore) WeekEnded Jun. 19, 2004 Jun. 26, 2004 Jul. 3, 2004 Jul. 10, 2004 Jul. 17, 2004 Jul. 24, 2004 1 2 3 4 5 6 7 Amount 564.00 587.20 401.18 258.01 345.83 386.26 Source : National Stock Exchange of India Ltd.

(Rs. crore) Jul. 23, 2004 Variation in Total Treasury Bills Holders Treasury Bills of Different Maturities Total Over the Over End 14 Day 91 Day 364 Day (2+3+4) Week March (Intermediate) (Auction) (Auction) 1 2 3 4 5 6 7 Reserve Bank of India — — — — — — Banks — 15,287 26,671 41,958 1,426 22,565 State Governments 7,174 1,100 — 8,274 273 818 Others 493 10,752 6,700 17,945 –438 3,688

(Face Value in Rs. crore) Gross Amount Raised Net Amount Raised 2004-2005 2003-2004 2003-2004 2004-2005 2003-2004 2003-2004 (Upto (Upto (Upto (Upto Jul. 23, 2004) Jul. 25, 2003) Jul. 23, 2004) Jul. 25, 2003) 1 2 3 4 5 6 7 1. Total 56,000 $ 65,000 1,35,934 32,724 $ 52,713 88,807 of which : 1.1 Devolvement/Private Placement on RBI — 5,000 21,500 2. RBI's OMO Sales 647 5,677 41,849 Purchases — — — $ : Includes Rs.20,000 crore under Market Stabilisation Scheme.

(Amount in Rs. crore) For the Week Ended Jul. 16, 2004 For the Week Ended Jul. 23, 2004 Item Amount YTM (%PA) Indicative** Amount YTM (%PA) Indicative** Minimum Maximum Minimum Maximum 1 2 3 4 5 6 7 I. OutrightTransactions 1. Govt. of India Dated Securities Maturing in the year 2004-05 — — — 130 4.3945 4.5349 2005-06 40 4.7771 4.9597 40 4.8315 4.8548 2006-07 410 4.5491 5.0907 529 4.9844 5.1367 2007-08 85 5.2854 5.3295 518 5.3103 5.3659 2008-09 195 5.3750 5.7310 170 5.