Money Stock : Components and Sources

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Date: December 01, 2006

(Rs. crore)
*Item*		Outstanding as on		Variation over
		2006				Financial year so far			Year-on-year
		2006		Fortnight		2005-2006		2006-2007		2005		2006
				Fortnight		2005-2006		2006-2007		2005		2006
		Mar. 31#	Nov. 10#	Amount	%	Amount	%	Amount	%	Amount	%	Amount	%
1		2	3	4	5	6	7	8	9	10	11	12	13
^M3		27,29,535	29,65,786	13,817	0.5	1,66,010	7.1	2,36,250	8.7	3,67,492	17.2	4,67,109	18.7

Components (i+ii+iii+iv)
(i)	Currency with the Public	4,13,143	4,54,939	917	0.2	37,528	10.6	41,796	10.1	44,121	12.7	62,540	15.9
(ii)	Demand deposits with banks	4,05,224	3,92,361	–2,514	–0.6	–225	–0.1	–12,863	–3.2	66,643	26.2	71,223	22.2
(iii)	Time deposits with banks @	19,04,290	21,13,058	15,538	0.7	1,30,498	7.9	2,08,768	11.0	2,58,987	17.0	3,32,446	18.7
(iv)	'Other' deposits with Reserve Bank	6,879	5,427	–123	–2.2	–1,791	–28.3	–1,451	–21.1	–2,260	–33.3	899	19.9
Sources (i+ii+iii+iv-v)
(i)	Net Bank credit to Government (a+b)	7,69,093	8,01,657	–7,114	–0.9	22,872	3.1	32,565	4.2	17,653	2.3	30,079	3.9
	(a) Reserve Bank	8,136	4,017	–6,715		20,649		–4,120		–37,750		11,030
	(b) Other Banks	7,60,956	7,97,640	–399	—	2,222	0.3	36,684	4.8	55,403	7.7	19,049	2.4
(ii)	Bank credit to commercial sector (a+b)	16,90,961	18,62,720	14,162	0.8	1,53,771	11.6	1,71,759	10.2	3,10,068	26.4	3,77,690	25.4
	(a) Reserve Bank	1,387	1,384	—	—	457	32.9	–3	–0.2	–563	–23.4	–462	–25.0
	(b) Other Banks	16,89,574	18,61,336	14,162	0.8	1,53,315	11.5	1,71,761	10.2	3,10,631	26.5	3,78,152	25.5
(iii)	Net foreign exchange assets of banking sector	7,26,194	7,84,903	–7,624	–1.0	33,978	5.2	58,709	8.1	91,682	15.5	1,03,022	15.1
(iv)	Government's currency liabilities to the public	8,754	8,931	—	—	1,227	16.5	177	2.0	1,314	17.9	256	2.9
(v)	Banking sector's net non-monetary liabilities
	other than time deposits	4,65,466	4,92,425	–14,393	–2.8	45,838	11.4	26,958	5.8	53,225	13.5	43,938	9.8
	of which : Net non-monetary liabilities of RBI	1,23,990	1,61,953	–9,846	–5.7	5,402	4.4	37,963	30.6	–10,239	–7.4	33,338	25.9
@ : Data reflect redemption of India Millennium Deposits (IMDs) on December 29, 2005. Note : Financial year variation during 2006-07 so far is worked out from March 31, 2006, whereas the corresponding financial year Variation during 2005-06 is worked out from April 1, 2005.