(Amount in Rupees crore)

Outstanding

Variations

Item

as on

Financial year

April-June

March

2001-02

2000-01

2002-03

2001-02

31, 2002

Absolute

Per cent

Absolute

Per cent

Absolute

Per cent

Absolute

 Per cent

1

2

3

4

5

6

7

8

9

10

Broad Money (M₃) (I.I+I.2+I.3)

15,00,003

1,86,782

14.2

1,89,046

16.8

1,17,345

7.8

67,543

5.1

(74,753)

(5.0)

I.

Components of Money Stock

1.

Currency with the Public

2,41,399

31,849

15.2

20,468

10.8

14,048

5.8

12,773

6.1

2.

Aggregate Deposits with

12,55,754

1,55,713

14.2

1,67,982

18.0

1,02,908

8.2

54,654

5.0

Banks (a+b)

(60,316)

(4.8)

a)

Demand Deposits

1,78,284

12,014

7.2

16,589

11.1

3,744

2.1

5,104

3.1

b)

Time Deposits $

10,77,470

1,43,699

15.4

1,51,393

19.4

99,164

9.2

49,550

5.3

(56,572)

(5.3)

3.

‘Other’ Deposits with the RBI

2,850

-780

-21.5

596

19.6

389

13.6

115

3.2

Narrow Money (M₁)[I.1+I.2(a)+I.3]

4,22,533

43,083

11.4

37,653

11.0

18,180

4.3

17,992

4.7

II.

Sources of Money Stock

(II.1+II.2+II.3+II.4-II.5)

1.

Net Bank Credit to

5,86,466

74,511

14.6

70,577

16.0

43,733

7.5

41,291

8.1

Government (A+B)

A.

Net RBI credit to

1,52,178

-1,699

-1.1

5,613

3.8

-4,212

-2.8

15,742

10.2

Government (a+b)

a. Net RBI credit to the

1,41,384

-5,150

-3.5

6,705

4.8

1,455

1.0

19,523

13.3

Central Government

b. Net RBI credit to

10,794

3,451

47.0

-1,092

-12.9

-5,667

-52.5

-3,781

-51.5

State Governments

B.

Other banks’ credit to

4,34,288

76,210

21.3

64,964

22.2

47,946

11.0

25,549

7.1

Government

2.

Bank Credit to

7,56,265

77,046

11.3

92,655

15.8

58,741

7.8

2,223

0.3

Commercial Sector (a+b)

a)

RBI’s credit to

5,929

-7,358

-55.4

-1,983

-13.0

-3,010

-50.8

-3,111

-23.4

commercial sector

b)

Other banks’ credit to

7,50,336

84,404

12.7

94,638

16.6

61,750

8.2

5,334

0.8

commercial sector

3.

Net Foreign Exchange Assets of

3,14,733

64,913

26.0

44,172

21.5

19,279

6.1

1,397

0.6

Banking Sector (a+b)

a)

RBI’s net foreign

2,63,969

66,794

33.9

31,295

18.9

19,279

7.3

7,187

3.6

exchange assets

b)

Other banks’ net

50,764

-1,881

-3.6

12,877

32.4

0

0.0

-5,791

-11.0

foreign exchange assets

4.

Government’s Currency

6,366

1,013

18.9

776

16.9

89

1.4

211

3.9

Liabilities to the Public

5.

Banking Sector’s Net

1,63,828

30,701

23.1

19,133

16.8

4,498

2.7

-22,421

-16.8

Non-Monetary Liabilities

other than Time Deposits (a+b)

a)

Net non-monetary

1,01,220

21,875

27.6

9,123

13.0

17,548

17.3

7,330

9.2

liabilities of RBI

b)

Net non-monetary liabilities

62,608

8,826

16.4

10,010

22.9

-13,050

-20.8

-29,751

-55.3

of other banks (residual)

Memo Items : Select Monetary Ratios

1.

M₃ Multiplier

4.4

2.

Bankers’ Reserves to Aggregate

7.5

3.

Currency to Aggregate Deposits Ratio

19.2

Data provisional.
$ Includes Resurgent India Bonds worth Rs. 17,945 crore since August 28, 1998 and India Millennium Deposits worth Rs. 25,662 crore since November 17, 2000. Figures in brackets exclude the impact of mergers since May 3, 2002.
Note : Revised in line with the new accounting standards and consistent with the methodology suggested by the Working Group on Money Supply : Analytics and Methodology of Compilation (Chairman: Dr. Y.V. Reddy), June 1998. The revision is in respect of pension and provident funds with commercial banks which are classified as other demand and time liabilities and includes those banks which have reported such changes so far.