2003 2004 Variation Item Mar. 21 Mar. 12 Mar. 19# Week Year 1 2 3 4 5 6 Notes issued 2,78,659 3,22,096 3,20,988 –1,108 42,329 Notes in circulation 2,78,633 3,22,078 3,20,966 –1,112 42,333 Notes held in Banking Department 26 18 22 4 –4 Deposits Central Government 101 101 101 — — State Governments 41 41 41 — — Scheduled Commercial Banks 58,335 78,204 68,997 –9,207 10,662 Scheduled State Co-operative Banks 1,606 1,543 1,753 210 147 Other Banks 4,428 4,573 4,555 –18 127 O

Variation over Item As on Mar. 19, 2004 Week End-March2003 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 4,97,430 1,09,998 1,289 402 1,39,150 34,570 32,960 8,163 1,45,315 36,177 of which : (a)Foreign Currency Assets 4,78,454 1,05,806 1,289 402* 1,36,978 33,916 33,222 8,189 1,44,117 35,714 (b)Gold 18,966 4,190 — — 2,181 656 –259 –25 1,207 465 (c) SDRs 10 2 — — –9 –2 –3

(Rs. crore) Outstanding Variation over Item as on 2004 Fortnight Financial year so far Year-on-year Mar. 5# 2002-2003 2003-2004 2003 2004 1 2 3 4 5 6 7 Liabilities to the Banking System Demand and time deposits from Banks 37,641 628 6,019 –2,813 6,912 194 Borrowings from Banks (1) 14,103 1,390 737 –5,535 2,299 –6,885 Other demand and time liabilities (2) 2,450 77 299 196 454 –72 Liabilities to Others Aggregate deposits@ 14,82,130 12,377 1,76,175 2,01,276 1,87,877 2,02

(per cent per annum) 2003 2004 Item / week ended Mar. 14 Feb. 6 Feb. 13 Feb. 20 Feb. 27 Mar. 5 Mar. 12 1 2 3 4 5 6 7 8 Cash Reserve Ratio (per cent)(1) 4.75 4.50 4.50 4.50 4.50 4.50 4.50 Bank Rate 6.25 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) 10.75-11.50 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) 5.25-6.25 5.00-5.50 5.00-5.50 5.00-5.50 5.00-5.50 5.00-5.50 5.00

(Rs. crore) 2003 - 2004 2002 - 2003 Outstanding Variations Outstanding Variations as on (3) - (2) as on (6) - (5) Item 2003 2004 2002 2003 Mar. 21 Mar. 5 Mar. 22 Mar. 7 1 2 3 4 5 6 7 1. Bank Credit 7,29,215 8,19,128 89,913 5,89,723 7,16,012 1,26,290 (12.3) (21.4) A. Food Credit 49,479 35,858 –13,621 53,978 49,716 –4,262 B. Non-Food Credit 6,79,736 7,83,270 1,03,534 5,35,745 6,66,297 1,30,552 2. Investments £ 92,854 87,425 @ –5,428 81,000 93,616 + 12,617 A. Commercial

Foreign 2003 2004 2003 2004 Currency Mar. 21 Mar. 15 Mar. 16 Mar. 17 Mar. 18 Mar. 19 Mar. 21 Mar. 15 Mar. 16 Mar. 17 Mar. 18 Mar. 19 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 47.7000 45.2500 45.2400 45.2500 45.2200 45.2200 (Based on Middle Rates) Euro 50.5800 55.3800 55.5700 55.5000 55.5200 56.0300 FEDAI Indicative Rates (Rs. per Foreign Currency) U.S. {Buying 47.6950 45.2400 45.2300 45.2

(Rs. crore) Outstanding as on Variation over Financial year so far Year-on-year 2003 2004 Fortnight 2002-2003 2003-2004 2003 2004 Item Mar. 31# Mar. 5# Amount % Amount % Amount % Amount % Amount % 1 2 3 4 5 6 7 8 9 10 11 12 13 M3 17,25,222 19,77,743 15,023 0.8 2,24,768 15.0 2,52,520 14.6 2,37,482 16.0 2,54,620 14.8 [16,95,551] [1,94,823] [13.0] [2,07,537] [14.0] Components (i+ii+iii+iv) (i) Currency with the Public 2,70,983 3,15,543 2,586 0.8 33,936 14.1 44,561 16.4 3

(Rs. crore) Outstanding as on Variation over 2003 2004 Week Financial year so far Year-on-year 2002-2003 2003-2004 2003 2004 Item Mar. 31# Mar. 19# Amount % Amount % Amount % Amount % Amount % 1 2 3 4 5 6 7 8 9 10 11 12 13 Reserve Money 3,69,061 4,08,270 –9,462 –2.3 15,412 4.6 39,208 10.6 31,282 9.7 54,887 15.5 Components (i+ii+iii) (i) Currency in circulation 2,82,473 3,28,206 –1,112 –0.3 34,730 13.8 45,734 16.2 34,098 13.6 42,502 14.9 (ii) Bankers' deposits with RBI

(Rs. crore) Repo/RR REPO REVERSE REPO Net injection(+) LAF period Bids Received Bids Accepted Cut-Off Bids Received Bids Accepted Cut-Off absorption(-) of Outstanding Date (Day(s)) Number Amount Number Amount Rate(%) Number Amount Number Amount Rate(%) liquidity (11-6) Amount @ 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Mar. 15, 2004 1 49 51,925 49 51,925 4.50 — — — — — –51,925 59,175 Mar. 16, 2004 1 51 55,045 51 55,045 4.50 — — — — — –55,045 62,295 Mar. 17, 2004 1 49 48,415 49

(Rs. crore) Date of Date of Notified Bids Received Bids Accepted Devolvement on Total Weigh- Implicit Amount Auction Issue Amount Total Face Value Total Face Value Issue ted Yieldat Outstanding Number Com- Non- Number Com- Non- PDs/SDs* RBI (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 Jul. 2 Jul. 4 500 31 778 — 25 500 — — — 500 98.77 5

(Rs. crore) Date of Date of Notified Bids Received Bids Accepted Devolvement on Total Weigh- Implicit Amount Auction Issue Amount Number Total Face Value Total Face Value Issue ted Yieldat Outstanding Com- Non- Number Com- Non- PDs/SDs* RBI (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 Jul. 9 Jul. 11 1,000 51 2,430 29 21 1,000 29 — —

(Rs. crore) Fortnight Date Ended 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Feb. 21 Feb. 22 Feb. 23 Feb. 24 Feb. 25 Feb. 26 Feb. 27 Feb. 28 Feb. 29 Mar. 1 Mar. 2 Mar. 3 Mar. 4 Mar. 5 Mar. 5, 2004 68,043 1,36,086 2,11,555 2,85,381 3,56,663 4,26,939 4,99,171 5,74,067 6,48,963 7,17,939 7,86,814 8,57,339 9,28,752 10,04,348 Mar. 6 Mar. 7 Mar. 8 Mar. 9 Mar. 10 Mar. 11 Mar. 12 Mar. 13 Mar. 14 Mar. 15 Mar. 16 Mar. 17 Mar. 18 Mar. 19 Mar. 19, 2004 75,061 1,50,123 2,23,435 2,93,980 3,

(Rs. crore) Fortnightended Total Amount Issuedduring Rate of Interest Outstanding # the fortnight # (percent)@ 1 2 3 4 Apr. 4, 2003 1,188 25 5.25 — 7.40 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 Jan. 23, 2004 4,419 88 3.57 — 6.11 Feb. 6, 2004 4,826 157 3.92 — 5.06 @: Effective interest rate range per annum.

(Rs. crore) Fortnightended Total Amount Reportedduring Rate of Interest Outstanding thefortnight (percent)@ 1 2 3 4 Apr. 15, 2003 5,839 752 5.25 — 8.15 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 Feb. 29, 2004 9,379 681 4.60 — 7.50 Mar. 15, 2004 9,342 903 4.81 — 5.90 @: Typical effective discount rate range per annum on issues during the fortnight.

2003 2004 Percentage Variation over Weight Mar. 8 Jan. 10* Mar. 6# Week Month End Year Items / Week ended March 1 2 3 4 5 6 7 8 9 ALL COMMODITIES 100.00 171.2 178.6 179.6 –0.2 0.2 4.2 4.9 Primary Articles 22.02 177.9 182.5 181.6 –0.5 –0.1 1.9 2.1 (i) Fruits and Vegetables 2.92 179.8 190.1 185.2 –1.7 –1.3 1.8 3.0 Fuel, Power, Light and Lubricants 14.23 252.7 261.6 262.3 –0.4 –0.4 2.3 3.8 Manufactured Products 63.75 150.7 158.8 160.4 –0.1 0.6 5.9 6.4 (i) Sugar, Khandsar

2003 2004 Mar. 19 Mar. 15 Mar. 16 Mar. 17 Mar. 18 Mar. 19 1 2 3 4 5 6 7 BSE SENSEX (1978-79=100) 3121.18 5520.66 5525.09 5535.69 5414.94 5443.44 S & P CNX NIFTY (3.11.1995=1000) 1003.90 1763.40 1749.35 1749.85 1716.65 1725.10

WeekEnded Feb. 6, 2004 Feb. 13, 2004 Feb. 20, 2004 Feb. 27, 2004 Mar. 5, 2004 Mar. 12, 2004 Mar. 19, 2004 1 2 3 4 5 6 7 8 1. Banks (a) Borrowings 1,360 1,379 1,336 1,701 1,676 1,634 3,070 (b) Lendings 2,383 2,068 1,776 1,889 1,697 2,076 2,908 2. Primary Dealers (a) Borrowings 4,066 4,020 3,762 3,208 3,967 3,857 4,252 (b) Lendings 51 70 42 95 50 119 97 3. Non-Bank Institutions (a) Lendings 2,957 2,860 2,799 2,647 2,903 2,740 3,442 4. Total (a) Borrowings 5,426 5,399 5,

(Rs. crore) WeekEnded Items Feb. 13, 2004 Feb. 20, 2004 Feb. 27, 2004 Mar. 5, 2004 Mar. 12, 2004 Mar. 19, 2004 1 2 3 4 5 6 7 I.Outright Transactions (a)Govt. of India Dated Securities 38,579 29,115 38,057 32,308 60,352 55,167 (b)State Government Securities 867 456 625 267 709 1,169 (c)91 – Day Treasury Bills 1,983 1,463 1,409 1,356 1,856 1,595 (d)364 – Day Treasury Bills 3,747 1,838 2,184 3,258 4,461 5,392 II.RBI* — 18 — 54 8 — @ :Excluding Repo Transactions.*: RBI's

(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 Mar. 1, 2004 709 264 24 45 195 82 905 1262 57 848 246 101 Mar. 2, 2004 + Mar. 3, 2004 823 366 213 21 220 105 1373 1322 55 1071 306 63 Mar. 4, 2004 641 512 147 20 73 101 1387 1973 49 860 320 6 Mar. 5, 2004 624 342 149 15 129 102 1253 1702

(Rs. crore) WeekEnded Feb. 14, 2004 Feb. 21, 2004 Feb. 28, 2004 Mar. 6, 2004 Mar. 13, 2004 Mar. 20, 2004 1 2 3 4 5 6 7 Amount 102.68 111.66 165.16 118.61 409.64 942.14 Source : National Stock Exchange of India Ltd.

(Rs. crore) Mar. 19, 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 — — — — — –1,019 Banks — 3,262 15,428 18,690 674 –10,204 State Governments 3,379 600 — 3,979 –1,081 –2,414 Others 499 3,277 10,708 14,484 –694 9,331

(Face Value in Rs. crore) Gross Amount Raised Net Amount Raised 2003-2004 2002-2003 2002-2003 2003-2004 2002-2003 2002-2003 (Upto (Upto (Upto (Upto Mar. 19, 2004) Mar. 20, 2003) Mar. 19, 2004) Mar. 20, 2003) 1 2 3 4 5 6 7 1. Total 1,35,934*$ 1,25,000 1,25,000 1,04,032 97,580 97,580 of which : 1.1 Devolvement/Private Placement on RBI 21,500 $ 36,175 36,175 2. RBI's OMO Sales 41,843 53,772 53,780 Purchases — — — * : Includes Rs.14,434 crore representing face value of fo

(Amount in Rs. crore) For the Week Ended Mar. 12, 2004 For the Week Ended Mar. 19, 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 2003-04 95 4.1206 4.4762 255 4.4334 4.7058 2004-05 367 3.9801 4.5139 591 4.3015 4.5563 2005-06 193 4.4100 4.4312 289 4.4087 4.4999 2006-07 235 4.5484 4.6184 215 4.5137 4.7596 2007-08 75 4.7490