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7. Money Stock : Components and Sources
81857009

7. Money Stock : Components and Sources

                      (Rs. crore)

    Outstanding   Variation over
    as on
 
 
 
 
 
 
 
 
 
  Item           Financial year so far
   
    1998
 
Fortnight
1997-98
1998-99
Year
 
    Mar. 31# Dec. 18#   Amount % Amount % Amount % Amount %

  1 2 3   4 5 6 7 8 9 10 11

M3   8,25,389 9,25,253 1,968 0.2 71,674 10.2 99,864 12.1 1,51,731 19.6
Components (i+ii+iii+iv)                      
(i) Currency with the Public 1,45,182 1,62,283 1,257 0.8 12,402 9.4 17,101 11.8 17,794 12.3
(ii) Demand deposits with                      
  banks 1,18,435 1,14,896 -7 — -3,774 -3.6 -3,540 -3.0 13,336 13.1
(iii) Time deposits with banks 5,58,167 6,44,055 @ 188 — 61,935 13.4 85,887 15.4 1,20,886 23.1
(iv) "Other" deposits with                      
  Reserve Bank 3,604 4,019 530   1,111 415 -285    
Sources (i+ii+iii+iv-v)                      
(i) Net bank credit to                      
  Government (a+b) 3,30,619 3,80,635 56 — 32,834 11.4 50,016 15.1 59,182 18.4
  (a) Reserve Bank 1,35,160 1,49,262 -1,820   4,816   14,102   20,265  
  (b) Other Banks 1,95,460 2,31,374 1,876   28,018   35,914   38,917  
                         
(ii) Bank credit to commercial                      
  sector (a+b) 4,32,190 4,50,103 1,305 0.3 16,572 4.4 17,913 4.1 57,224 14.6
  (a) Reserve Bank 8,186 8,347 28   1,503   162   597  
  (b) Other Banks 4,24,004 4,41,756 1,277   15,069   17,751   56,627  
                         
(iii) Net foreign exchange assets                      
  of banking sector 1,26,569 1,37,050 536 0.4 11,788 11.2 10,481 8.3 19,766 16.9
(iv) Government's currency                      
  liabilities to the public 3,120 3,561 —   311   441   332  
(v) Banking sector's net non-                      
  monetary liabilities                      
  other than time deposits 67,110 46,096 -71   -10,170   -21,013   -15,227  
  of which : Net non-monetary                      
  liabilities of R.B.I. 43,219 58,997 983   6,377   15,779   17,437  

@ : Includes Rs. 17,945 crore on account of proceeds from Resurgent India Bonds (RIBs). Excluding these proceeds, the year-on-year M3 growth rate in column 11 would work out to be 16.9 per cent.

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