Money Stock: Components and Sources

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Date: September 15, 2023

(₹ Crore)
Item	Outstanding as on		Variation over
	2023		Fortnight		Financial Year so far				Year-on-Year
	2023		Fortnight		2022-23		2023-24		2022		2023
	Mar. 31	Aug. 25	Amount	%	Amount	%	Amount	%	Amount	%	Amount	%
	1	2	3	4	5	6	7	8	9	10	11	12
M3	22343760	23316865	-13277	-0.1	557694	2.7	973105	4.4	1720996	8.9	2265442	10.8
		(23463661)	(-14963)	(-0.1)			(1119901)	(5.0)			(2412238)	(11.5)
1 Components (1.1.+1.2+1.3+1.4)
1.1 Currency with the Public	3276436	3205046	-9957	-0.3	26790	0.9	-71390	-2.2	231654	8.2	142567	4.7
1.2 Demand Deposits with Banks	2320598	2346219	25640	1.1	-49005	-2.2	25621	1.1	237786	12.3	182232	8.4
1.3 Time Deposits with Banks	16668966	17693713	-29016	-0.2	581163	3.8	1024747	6.1	1240523	8.5	1925945	12.2
		(17840509)	(-30702)	(-0.2)			(1171543)	(7.0)			(2072741)	(13.1)
1.4 ‘Other’ Deposits with Reserve Bank	77761	71887	56	0.1	-1255	-2.1	-5874	-7.6	11033	23.9	14698	25.7
2 Sources (2.1+2.2+2.3+2.4-2.5)
2.1 Net Bank Credit to Government	7165533	7274511	-79879	-1.1	-6316	-0.1	108978	1.5	391999	6.4	803197	12.4
		(7387274)	(-79779)	(-1.1)			(221741)	(3.1)			(915961)	(14.2)
2.1.1 Reserve Bank	1451126	1185246	-66942		-347112		-265879		-87748		81762
2.1.2 Other Banks	5714407	6089264	-12937	-0.2	340796	6.8	374857	6.6	479747	9.8	721435	13.4
		(6202028)	(-12837)	(-0.2)			(487620)	(8.5)			(834199)	(15.5)
2.2 Bank Credit to Commercial Sector	14429636	15055287	59816	0.4	590114	4.7	625651	4.3	1706446	14.8	1848653	14.0
		(15657489)	(58721)	(0.4)			(1227853)	(8.5)			(2450855)	(18.6)
2.2.1 Reserve Bank	26549	5186	1073		16398		-21363		24353		-27783
2.2.2 Other Banks	14403087	15050101	58743	0.4	573716	4.6	647014	4.5	1682093	14.6	1876436	14.2
		(15652303)	(57648)	(0.4)			(1249215)	(8.7)			(2478637)	(18.8)
2.3 Net Foreign Exchange Assets of Banking Sector	4911766	5075585	-71083	-1.4	-274808	-5.7	163819	3.3	-278554	-5.7	496330	10.8
2.4 Government's Currency Liabilities to the Public	30285	31148	0	0	778	2.8	863	2.8	1581	5.8	2357	8.2
2.5 Banking Sector's Net Non-Monetary Liabilities	4193459	4119665	-77869	-1.9	-247925	-7.1	-73794	-1.8	100476	3.2	885095	27.4
		(4687834)	(-77178)	(-1.6)			(494375)	(11.8)			(1453263)	(44.9)
2.5.1 Net Non-Monetary Liabilities of RBI	1587565	1510374	-39790	-2.6	929	0.1	-77191	-4.9	-7280	-0.6	200945	15.3
Note: Figures in parentheses include the impact of merger of a non-bank with a bank.