Mid-Term Review of Monetary and Credit Policy for 1999-2000 (Part 2 of 6) - आरबीआय - Reserve Bank of India
Mid-Term Review of Monetary and Credit Policy for 1999-2000 (Part 2 of 6)
Table 1: Monthly Seasonal Factors of Selected Economic Time Series (April - March)
Apr |
May |
Jun |
Jul |
Aug |
Sep |
Oct |
Nov |
Dec |
Jan |
Feb |
Mar |
Peak |
Peak |
Trough |
Trough |
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|
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|
|
|
Month |
Value |
Month |
Value |
||
A. MONETARY & BANKING INDICATORS |
||||||||||||||||||
1. MONEY STOCK MEASURES & BANK CREDIT TO GOVERNMENT |
||||||||||||||||||
A. 1.1 Broad Money (M3) |
||||||||||||||||||
1998-99: |
101.5 |
101.0 |
100.8 |
100.0 |
99.3 |
100.1 |
100.1 |
99.4 |
99.0 |
99.1 |
98.9 |
100.9 |
APR |
101.5 |
FEB |
98.9 |
||
Average: |
101.4 |
101.1 |
100.6 |
99.7 |
98.9 |
100.0 |
100.0 |
99.8 |
99.4 |
99.3 |
99.2 |
100.5 |
APR |
101.4 |
AUG |
98.9 |
||
1999-00: |
101.5 |
101.0 |
100.8 |
100.0 |
99.3 |
100.1 |
100.1 |
99.4 |
99.0 |
99.1 |
98.9 |
100.9 |
APR |
101.5 |
FEB |
98.9 |
||
A. 1.1.1 Net Bank Credit to Government |
||||||||||||||||||
1998-99: |
100.8 |
101.5 |
102.1 |
102.7 |
100.2 |
99.1 |
99.5 |
99.8 |
98.8 |
98.3 |
98.3 |
98.9 |
JUL |
102.7 |
JAN |
98.3 |
||
Average: |
100.8 |
101.6 |
101.3 |
102.2 |
100.5 |
99.3 |
99.8 |
100.2 |
98.5 |
99.1 |
98.4 |
98.2 |
JUL |
102.2 |
MAR |
98.2 |
||
1999-00: |
100.8 |
101.5 |
102.1 |
102.7 |
100.2 |
99.1 |
99.5 |
99.8 |
98.8 |
98.3 |
98.3 |
98.9 |
JUL |
102.7 |
JAN |
98.3 |
||
A. 1.1.1.1 Net RBI Credit to Government |
||||||||||||||||||
1998-99: |
101.4 |
104.6 |
105.7 |
105.6 |
97.8 |
95.6 |
97.9 |
98.4 |
97.5 |
98.2 |
97.7 |
100.0 |
JUN |
105.7 |
SEP |
95.6 |
||
Average: |
101.2 |
103.3 |
102.8 |
104.1 |
99.3 |
97.1 |
98.9 |
99.8 |
97.3 |
99.2 |
98.5 |
98.2 |
JUL |
104.1 |
SEP |
97.1 |
||
1999-00: |
101.2 |
104.7 |
105.8 |
105.5 |
97.7 |
95.6 |
97.9 |
98.4 |
97.7 |
98.3 |
97.8 |
100.1 |
JUN |
105.8 |
SEP |
95.6 |
||
A. 1.1.2 Total Bank Credit to Commercial Sector |
||||||||||||||||||
1998-99: |
102.3 |
100.7 |
99.8 |
99.7 |
97.9 |
98.6 |
99.5 |
98.7 |
98.6 |
100.6 |
100.3 |
103.3 |
MAR |
103.3 |
AUG |
97.9 |
||
Average: |
102.7 |
101.2 |
100.0 |
99.5 |
98.1 |
98.6 |
99.6 |
98.8 |
98.9 |
100.3 |
100.2 |
102.5 |
APR |
102.7 |
AUG |
98.1 |
||
1999-00: |
102.3 |
100.7 |
99.8 |
99.7 |
97.9 |
98.6 |
99.5 |
98.7 |
98.6 |
100.6 |
100.3 |
103.3 |
MAR |
103.3 |
AUG |
97.9 |
||
A. 1.2 Narrow Money (M1) |
||||||||||||||||||
1998-99: |
103.4 |
103.0 |
102.7 |
100.4 |
97.7 |
98.0 |
99.1 |
98.7 |
98.0 |
98.4 |
98.1 |
102.6 |
APR |
103.4 |
AUG |
97.7 |
||
Average: |
103.1 |
103.7 |
102.3 |
99.7 |
97.1 |
98.3 |
99.2 |
99.5 |
98.3 |
98.5 |
98.7 |
101.4 |
MAY |
103.7 |
AUG |
97.1 |
||
1999-00: |
103.4 |
103.0 |
102.7 |
100.4 |
97.7 |
98.0 |
99.1 |
98.7 |
98.0 |
98.5 |
98.1 |
102.6 |
APR |
103.4 |
AUG |
97.7 |
||
A. 1.2.1 Currency with the Public |
||||||||||||||||||
1998-99: |
103.4 |
105.4 |
104.0 |
100.5 |
97.1 |
95.6 |
98.3 |
99.2 |
99.0 |
98.5 |
99.3 |
99.4 |
MAY |
105.4 |
SEP |
95.6 |
||
Average: |
103.9 |
105.9 |
103.5 |
99.5 |
97.1 |
95.7 |
98.3 |
98.8 |
98.8 |
98.9 |
99.8 |
99.6 |
MAY |
105.9 |
SEP |
95.7 |
||
1999-00: |
103.4 |
105.4 |
104.0 |
100.6 |
97.0 |
95.6 |
98.3 |
99.2 |
99.0 |
98.5 |
99.3 |
99.4 |
MAY |
105.4 |
SEP |
95.6 |
||
A. 1.3 Reserve Money |
||||||||||||||||||
1998-99: |
101.3 |
102.8 |
103.0 |
100.0 |
97.9 |
96.8 |
99.5 |
98.6 |
99.7 |
98.9 |
99.2 |
102.4 |
JUN |
103.0 |
SEP |
96.8 |
||
Average: |
102.5 |
103.5 |
102.5 |
100.0 |
98.8 |
97.3 |
99.5 |
98.4 |
98.2 |
99.2 |
99.5 |
100.8 |
MAY |
103.5 |
SEP |
97.3 |
||
1999-00: |
101.2 |
102.9 |
103.0 |
100.0 |
97.8 |
96.8 |
99.5 |
98.7 |
99.8 |
98.9 |
99.2 |
102.5 |
JUN |
103.0 |
SEP |
96.8 |
||
2. MAJOR LIABILITIES OF THE RESERVE BANK OF INDIA & SCHEDULED COMMERCIAL BANKS |
||||||||||||||||||
A. 2.1 Deposits (Banking Department) |
||||||||||||||||||
1998-99: |
100.3 |
97.3 |
101.4 |
108.1 |
97.9 |
98.4 |
99.3 |
98.6 |
101.1 |
99.0 |
99.6 |
98.8 |
JUL |
108.1 |
MAY |
97.3 |
||
Average: |
100.8 |
96.7 |
98.0 |
104.0 |
101.3 |
101.4 |
100.4 |
98.2 |
97.6 |
100.9 |
99.9 |
100.7 |
JUL |
104.0 |
MAY |
96.7 |
||
1999-00: |
100.6 |
97.6 |
101.6 |
108.3 |
97.5 |
98.5 |
99.3 |
98.8 |
101.1 |
98.8 |
99.5 |
98.7 |
JUL |
108.3 |
AUG |
97.5 |
||
A. 2.2 Liabilities to the Banking System (SCBs) |
||||||||||||||||||
1998-99: |
93.1 |
99.8 |
108.1 |
108.2 |
99.2 |
99.0 |
98.6 |
96.1 |
102.8 |
96.9 |
99.5 |
98.8 |
JUL |
108.2 |
APR |
93.1 |
||
Average: |
97.1 |
91.5 |
97.2 |
110.0 |
109.9 |
112.4 |
101.0 |
92.0 |
98.5 |
102.3 |
99.8 |
89.3 |
SEP |
112.4 |
MAR |
89.3 |
||
1999-00: |
93.4 |
100.7 |
108.6 |
107.6 |
98.7 |
98.4 |
99.2 |
96.3 |
102.7 |
96.6 |
99.2 |
99.3 |
JUN |
108.6 |
APR |
93.4 |
||
A. 2.3 Aggregate Deposits (SCBs) |
||||||||||||||||||
1998-99: |
100.9 |
100.2 |
100.3 |
99.9 |
100.0 |
100.9 |
100.0 |
99.1 |
98.8 |
98.9 |
99.3 |
101.8 |
MAR |
101.8 |
DEC |
98.8 |
||
Average: |
100.7 |
100.1 |
100.0 |
99.9 |
99.9 |
101.1 |
100.1 |
99.4 |
99.6 |
99.1 |
99.6 |
100.6 |
SEP |
101.1 |
JAN |
99.1 |
||
1999-00: |
101.0 |
100.2 |
100.3 |
99.9 |
100.0 |
100.9 |
100.0 |
99.1 |
98.8 |
98.9 |
99.3 |
101.8 |
MAR |
101.8 |
DEC |
98.8 |
||
A. 2.3.1 Demand Deposits (SCBs) |
||||||||||||||||||
1998-99: |
101.6 |
99.7 |
101.0 |
99.2 |
97.1 |
101.9 |
98.5 |
97.1 |
98.0 |
99.1 |
98.2 |
108.7 |
MAR |
108.7 |
AUG |
97.1 |
||
Average: |
102.0 |
100.3 |
99.9 |
98.5 |
97.2 |
101.9 |
98.3 |
98.9 |
99.4 |
99.5 |
99.9 |
104.4 |
MAR |
104.4 |
AUG |
97.2 |
||
1999-00: |
101.5 |
99.7 |
101.2 |
99.3 |
97.1 |
101.9 |
98.5 |
97.0 |
97.9 |
99.1 |
98.1 |
109.0 |
MAR |
109.0 |
NOV |
97.0 |
||
A. 2.3.2 Time Deposits (SCBs) |
||||||||||||||||||
1998-99: |
100.7 |
100.3 |
100.1 |
100.1 |
100.2 |
100.8 |
100.1 |
99.5 |
99.2 |
99.3 |
99.5 |
100.3 |
SEP |
100.8 |
DEC |
99.2 |
||
Average: |
100.5 |
100.1 |
100.0 |
100.2 |
100.4 |
101.0 |
100.3 |
99.5 |
99.5 |
99.4 |
99.5 |
99.7 |
SEP |
101.0 |
JAN |
99.4 |
||
1999-00: |
100.7 |
100.3 |
100.1 |
100.1 |
100.2 |
100.8 |
100.1 |
99.5 |
99.2 |
99.3 |
99.5 |
100.3 |
SEP |
100.8 |
DEC |
99.2 |
||
3. MAJOR ASSETS OF THE RESERVE BANK OF INDIA & SCHEDULED COMMERCIAL BANKS |
||||||||||||||||||
(i) The Reserve Bank of India |
||||||||||||||||||
A. 3.1 Government of India Rupee Securities |
||||||||||||||||||
1998-99: |
106.0 |
107.0 |
103.6 |
98.7 |
94.9 |
93.9 |
98.4 |
97.8 |
97.8 |
100.0 |
100.3 |
102.0 |
MAY |
107.0 |
SEP |
93.9 |
||
Average: |
105.0 |
107.0 |
104.1 |
98.8 |
96.1 |
94.6 |
98.7 |
98.4 |
97.9 |
99.1 |
99.8 |
100.6 |
MAY |
107.0 |
SEP |
94.6 |
||
1999-00: |
106.1 |
107.0 |
103.5 |
98.7 |
94.8 |
93.8 |
98.4 |
97.8 |
97.8 |
100.1 |
100.3 |
102.2 |
MAY |
107.0 |
SEP |
93.8 |
||
A. 3.2 Balances held Abroad |
||||||||||||||||||
1998-99: |
101.5 |
100.7 |
98.5 |
102.1 |
96.5 |
98.3 |
100.5 |
95.5 |
101.4 |
101.7 |
97.7 |
106.0 |
MAR |
106.0 |
NOV |
95.5 |
||
Average: |
102.6 |
101.3 |
101.6 |
103.3 |
98.5 |
93.7 |
96.4 |
91.6 |
99.6 |
97.2 |
99.8 |
113.8 |
MAR |
113.8 |
NOV |
91.6 |
||
1999-00: |
101.3 |
100.6 |
98.4 |
102.1 |
96.5 |
98.3 |
100.3 |
95.5 |
101.6 |
102.0 |
97.8 |
106.1 |
MAR |
106.1 |
NOV |
95.5 |
||
A. 3.3 Loans and Advances (RBI) |
||||||||||||||||||
1998-99: |
102.5 |
101.0 |
101.4 |
89.2 |
91.9 |
94.1 |
101.8 |
94.2 |
110.3 |
104.5 |
108.5 |
98.5 |
DEC |
110.3 |
JUL |
89.2 |
||
Average: |
111.9 |
95.7 |
95.3 |
85.9 |
90.1 |
98.8 |
99.4 |
86.5 |
104.2 |
108.7 |
106.6 |
116.5 |
MAR |
116.5 |
JUL |
85.9 |
||
1999-00: |
102.5 |
102.0 |
101.9 |
89.3 |
91.9 |
94.5 |
102.8 |
95.1 |
109.8 |
103.3 |
107.8 |
98.0 |
DEC |
109.8 |
JUL |
89.3 |
||
A. 3.4 Investments (RBI) |
||||||||||||||||||
1998-99: |
93.9 |
96.5 |
112.3 |
118.8 |
107.7 |
98.0 |
94.4 |
102.6 |
96.7 |
97.9 |
92.9 |
87.8 |
JUL |
118.8 |
MAR |
87.8 |
||
Average: |
93.3 |
95.7 |
103.1 |
112.4 |
107.3 |
100.3 |
96.0 |
102.8 |
97.7 |
101.8 |
97.4 |
90.5 |
JUL |
112.4 |
MAR |
90.5 |
||
1999-00: |
93.9 |
96.8 |
112.8 |
118.8 |
107.4 |
98.0 |
94.6 |
102.5 |
96.8 |
97.8 |
93.0 |
87.5 |
JUL |
118.8 |
MAR |
87.5 |
||
(ii) Scheduled Commercial Banks |
||||||||||||||||||
A. 3.5 Cash in Hand and Balances with RBI |
||||||||||||||||||
1998-99: |
98.9 |
101.2 |
99.5 |
101.5 |
97.5 |
97.8 |
97.8 |
98.8 |
103.8 |
102.6 |
102.1 |
98.5 |
DEC |
103.8 |
AUG |
97.5 |
||
Average: |
102.2 |
96.9 |
97.1 |
100.2 |
103.0 |
103.1 |
100.8 |
96.7 |
99.6 |
103.6 |
102.1 |
95.1 |
JAN |
103.6 |
MAR |
95.1 |
||
1999-00: |
99.0 |
101.6 |
99.7 |
101.4 |
97.0 |
97.8 |
97.8 |
99.1 |
103.8 |
102.5 |
102.0 |
98.5 |
DEC |
103.8 |
AUG |
97.0 |
||
A. 3.6 Asset with Banking System (SCBs) |
||||||||||||||||||
1998-99: |
101.8 |
100.0 |
104.3 |
104.4 |
93.4 |
99.0 |
98.1 |
95.1 |
97.4 |
97.8 |
102.7 |
105.8 |
MAR |
105.8 |
AUG |
93.4 |
||
Average: |
110.2 |
96.5 |
96.5 |
101.0 |
106.3 |
105.5 |
102.9 |
88.7 |
95.9 |
98.8 |
100.9 |
98.7 |
APR |
110.2 |
NOV |
88.7 |
||
1999-00: |
102.3 |
100.4 |
104.8 |
103.7 |
92.9 |
98.9 |
98.4 |
95.6 |
97.2 |
97.8 |
102.5 |
105.7 |
MAR |
105.7 |
AUG |
92.9 |
||
A. 3.7 Bank Credit (SCBs) |
; | |||||||||||||||||
1998-99: |
101.9 |
100.7 |
99.4 |
99.0 |
97.4 |
98.3 |
99.0 |
98.7 |
99.5 |
101.2 |
101.1 |
103.7 |
MAR |
103.7 |
AUG |
97.4 |
||
Average: |
102.7 |
101.4 |
99.8 |
99.2 |
97.4 |
98.6 |
98.9 |
98.5 |
99.7 |
101.0 |
100.6 |
102.5 |
APR |
102.7 |
AUG |
97.4 |
||
1999-00: |
101.9 |
100.7 |
99.4 |
99.0 |
97.5 |
98.3 |
99.0 |
98.7 |
99.5 |
101.2 |
101.1 |
103.7 |
MAR |
103.7 |
AUG |
97.5 |
||
A. 3.7.1 Loans,Cash Credits and Overdrafts (SCBs) |
||||||||||||||||||
1998-99: |
101.5 |
100.7 |
99.6 |
99.0 |
97.5 |
98.6 |
99.2 |
98.7 |
99.1 |
101.0 |
101.1 |
103.9 |
MAR |
103.9 |
AUG |
97.5 |
||
Average: |
102.3 |
101.6 |
100.5 |
99.3 |
97.6 |
98.9 |
99.2 |
98.3 |
99.3 |
100.6 |
100.5 |
102.3 |
MAR |
102.3 |
AUG |
97.6 |
||
1999-00: |
101.5 |
100.7 |
99.5 |
99.0 |
97.5 |
98.6 |
99.2 |
98.8 |
99.0 |
101.0 |
101.1 |
104.0 |
MAR |
104.0 |
AUG |
97.5 |
||
A. 3.7.2 Food Credit (SCBs) |
||||||||||||||||||
1998-99: |
90.7 |
113.3 |
113.3 |
108.0 |
100.5 |
91.6 |
98.6 |
101.8 |
97.6 |
98.0 |
96.3 |
90.3 |
MAY |
113.3 |
MAR |
90.3 |
||
Average: |
92.9 |
114.6 |
114.5 |
108.7 |
97.5 |
87.5 |
95.0 |
99.0 |
97.5 |
100.2 |
99.2 |
93.3 |
MAY |
114.6 |
SEP |
87.5 |
||
1999-00: |
90.7 |
113.3 |
113.4 |
108.2 |
100.6 |
91.6 |
98.5 |
101.8 |
97.6 |
97.9 |
96.3 |
90.4 |
JUN |
113.4 |
MAR |
90.4 |
||
A. 3.8 Investments (SCBs) |
||||||||||||||||||
1998-99: |
99.9 |
100.1 |
100.2 |
101.0 |
102.0 |
100.4 |
100.0 |
100.1 |
99.3 |
99.7 |
99.0 |
98.4 |
AUG |
102.0 |
MAR |
98.4 |
||
Average: |
100.5 |
99.9 |
99.9 |
100.3 |
101.0 |
100.4 |
100.3 |
99.9 |
100.1 |
99.9 |
99.1 |
98.8 |
AUG |
101.0 |
MAR |
98.8 |
||
1999-00: |
99.9 |
100.1 |
100.2 |
101.1 |
102.1 |
100.5 |
100.0 |
100.1 |
99.3 |
99.7 |
99.0 |
98.4 |
AUG |
102.1 |
MAR |
98.4 |
Note: |
1. |
Average figures relate for a sample period of 10 years (1989-90 to 1998-99). |
2. |
Figures for 1999-2000 are the forecasts of seasonal factors. |