NO.11 : SOURCES OF MONEY STOCK (M3)

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Published on October 03, 1998

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NO.11 : SOURCES OF MONEY STOCK (M3)

					(Rs. crore)

					Outstanding as on March 31/reporting Fridays of the
					month/last reporting Friday of the month
		Sources		1990-91		1992-93	1993-94	1994-95	1995-96	1996-97	1997-98	Aug.15,	Aug.29,
												1997	1997

			1	2		3	4	5	6	7	8	9	10

1.	Net Bank Credit to Government
	(A+B)			1,40,193		1,76,238	2,03,918	2,22,419	2,57,778	2,88,620	3,30,619	3,11,311	3,06,625

A.	RBIs net credit to Government
	(i-ii)			88,848		98,449	99,300	1,01,478	1,21,349	1,24,181	1,35,159	1,16,267	1,10,617

	(i)	Claims on Government (a+b)		90,534		99,547	1,01,486	1,02,451	1,23,848	1,26,252	1,37,838	1,16,335	1,10,684

		(a)	Central Government (1)	88,444		97,621	98,969	99,886	1,21,267	1,22,773	1,36,295	1,16,239	1,10,498

		(b)	State Governments	2,090		1,926	2,517	2,565	2,581	3,479	1,543	96	186

	(ii)	Government deposits with		1,686		1,098	2,186	973	2,499	2,071	2,679	68	67
		RBI (a+b)
		(a)	Central Government	1,686		1,098	2,186	973	2,499	2,071	2,679	51	51

		(b)	State Governments	-		-	-	-	-	-	-	17	16

B.	Other Banks Credit to Government			51,345		77,789	1,04,618	1,20,941	1,36,429	1,64,439	1,95,460	1,95,044	1,96,008

2.	Bank Credit to Commercial Sector			1,71,769		2,20,135	2,37,774	2,92,723	3,44,648	3,76,307	4,32,190	3,74,795	3,77,533
	(A+B)

	A.	RBIs credit to commercial
		sector (2)		6,342		6,220	6,445	6,593	6,855	6,247	8,186	7,737	7,801

	B.	Other banks credit to commercial		1,65,427		2,13,915	2,31,329	2,86,130	3,37,793	3,70,060	4,24,004	3,67,058	3,69,732
		sector (i+ii+iii)

		(i)	Bank credit by commercial
			banks	1,16,350		1,52,044	1,64,465	2,11,606	2,54,016	2,78,402	3,24,079	2,75,832	2,77,099

		(ii)	Bank credit by co-operative
			banks	22,927		30,809	33,813	41,046	48,932	57,476	64,752	57,325	57,347

		(iii)	Investments by commercial	26,150		31,062	33,051	33,478	34,845	34,182	35,173	33,901	35,286
			and co-operative banks in
			other securities

				(Rs. crore)

				Outstanding as on March 31/reporting Fridays of the
				month/last reporting Friday of the month
				April	May	June	July	Aug. 14,	Aug. 28,
				1998	1998	1998	1998	1998	1998

			1	11	12	13	14	15	16

1.	Net Bank Credit to Government (A+B)			3,36,085	3,49,740	3,60,138	3,66,697	3,63,687	3,63,496

A.	RBIs net credit to Government
	(i-ii)			1,29,216	1,42,112	1,50,342	1,50,672	1,45,506	1,40,637

	(i)	Claims on Government (a+b)		1,29,281	1,42,177	1,50,404	1,50,737	1,45,571	1,40,702

		(a)	Central Government (1)	1,28,926	1,41,715	1,48,829	1,49,983	1,44,964	1,39,829

		(b)	State Governments	355	462	1,575	754	607	873

	(ii)	Government deposits with		65	65	62	65	65	65
		RBI (a+b)

		(a)	Central Government	50	51	50	51	50	50

		(b)	State Governments	15	14	12	14	15	15

B.	Other Banks Credit to Government			2,06,869	2,07,628	2,09,796	2,16,025	2,18,181	2,22,859

2.	Bank Credit to Commercial Sector(A+B)			4,31,636	4,29,830	4,28,627	4,32,923	4,32,343	4,33,724

A.	RBIs credit to commercial sector (2)			8,201	8,367	8,439	8,469	8,448	8,199

B.	Other banks credit to commercial			4,23,435	4,21,463	4,20,188	4,24,454	4,23,895	4,25,525
	sector (i+ii+iii)

	(i)	Bank credit by commercial banks		3,22,846	3,20,974	319,022	3,22,566	3,21,936	3,23,670

	(ii)	Bank credit by co-operative banks		64,982	64,790	65,663	66,428	66,374	66,084

	(iii)	Investments by commercial		35,607	35,699	35,503	35,460	35,585	35,771
		and co-operative banks in other securities

																			(Rs. crore)

			Outstanding as on March 31/reporting Fridays of the
			month/last reporting Friday of the month
			1990-91		1992-93		1993-94		1994-95		1995-96		1996-97		1997-98		Aug.15,		Aug.22,
	Sources																1997		1997

	1		2		3		4		5		6		7		8		9		10

3.	Net Foreign Exchange Assets of
	Banking Sector (A+B)		10,581		24,443		54,612		79,032		82,141		1,05,496		1,26,569		1,17,826		1,19,924

A.	RBIs net foreign exchange
	assets (i-ii)(3)		7,983		22,647		51,422		74,720		74,092		94,817		1,15,890		1,07,147		1,09,245

	(i)	Gross foreign assets	11,217		30,689		60,081		79,757		74,104		94,925		1,15,900		1,07,158		1,09,255

	(ii)	Foreign liabilities	3,234		8,042		8,659		5,037		12		108		10		11		10

B.	Other banks net foreign		2,598		1,796		3,190		4,312		8,049		10,679		10,679		10,679		10,679
	exchange assets

4.	Governments Currency
	Liabilities to the Public		1,621		1,824		1,990		2,379		2,503		2,918		3,120		3,062		3,098

5.	Banking Sectors net Non-monetary
	Liabilities Other than Time Deposits
	(A+B)		58,336		55,815		63,887		65,127		83,063		71,493		67,109		70,500		73,220

A.	Net non-monetary liabilities of RBI(3)		27,022		28,246		26,037		29,358		32,296		35,183		43,219		37,230		33,792

B.	Net non-monetary liabilities of other
	banks(residual)		31,314		27,569		37,850		35,769		50,767		36,310		23,890		33,270		39,428

M₃ (1+2+3+4-5)				2,65,828		3,66,825		4,34,407		5,31,426		6,04,007		7,01,848		8,25,389		7,36,494		7,33,960

See 'Notes on Tables'.

								(Rs.crore)

			Outstanding as on March 31/reporting Fridays of the
			month/last reporting Friday of the month
			April	May	June	July	Aug.14,	Aug.28,
Sources			1998	1998	1998	1998	1998	1998

1			11	12	13	14	15	16

3.	Net Foreign exchange Assets of
	Banking Sector (A+B)		1,26,884	1,27,044	1,26,234	1,25,663	1,24,755	1,28,157

A.	RBIs net foreign exchange assets (i-ii)(3)		1,16,205	1,16,365	1,15,555	1,14,984	1,14,076	1,17,478

	(i)	Gross foreign assets	1,16,215	1,16,375	1,15,565	1,15,001	1,14,093	1,17,495

	(ii)	Foreign liabilities	10	10	10	17	17	17

B.	Other Banks net foreign		10,679	10,679	10,679	10,679	10,679	10,679
	exchange assets

4.	Governments Currency
	Liabilities to the Public		3,241	3,241	3,241	3,241	3,241	3,241

5.	Banking Sectors net Non-monetary
	Liabilities other than Time Deposits
	(A+B)		60,182	63,841	62,837	66,901	59,682	47,020

A.	Net non-monetary liabilities of RBI(3)		46,312	49,157	53,887	58,301	53,623	53,804

B.	Net non-monetary liabilities of other
	banks(residual)		13,870	14,684	8,950	8,600	6,059	-6,784

M3 (1+2+3+4-5)			8,37,664	8,46,014	8,55,403	8,61,623	8,64,344	8,81,598