Money Stock: Components and Sources

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Date: September 29, 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	Sep. 8	Amount	%	Amount	%	Amount	%	Amount	%	Amount	%
	1	2	3	4	5	6	7	8	9	10	11	12
M3	22343760	23477171	156419	0.7	634767	3.1	1133411	5.1	1725689	8.9	2348675	11.1
		(23620989)	(153440)	(0.7)			(1277229)	(5.7)			(2492492)	(11.8)
1 Components (1.1.+1.2+1.3+1.4)
1.1 Currency with the Public	3276436	3209232	3929	0.1	36995	1.2	-67204	-2.1	228581	8.0	136548	4.4
1.2 Demand Deposits with Banks	2320598	2334419	-11780	-0.5	-103684	-4.7	13821	0.6	221059	11.7	225111	10.7
1.3 Time Deposits with Banks	16668966	17861719	164355	0.9	698302	4.6	1192754	7.2	1261173	8.6	1976813	12.4
		(18005537)	(161377)	(0.9)			(1336571)	(8.0)			(2120631)	(13.3)
1.4 ‘Other’ Deposits with Reserve Bank	77761	71801	-86	-0.1	3154	5.4	-5960	-7.7	14876	31.8	10203	16.6
2 Sources (2.1+2.2+2.3+2.4-2.5)
2.1 Net Bank Credit to Government	7165533	7416974	142464	2.0	105817	1.6	251442	3.5	327363	5.2	833528	12.7
		(7529840)	(142567)	(1.9)			(364308)	(5.1)			(946395)	(14.4)
2.1.1 Reserve Bank	1451126	1244968	59722		-270830		-206157		-72059		65202
2.1.2 Other Banks	5714407	6172006	82742	1.4	376647	7.5	457599	8.0	399422	8.0	768326	14.2
		(6284872)	(82845)	(1.3)			(570465)	(10.0)			(881192)	(16.3)
2.2 Bank Credit to Commercial Sector	14429636	15177625	125173	0.8	680756	5.4	747989	5.2	1783045	15.5	1880349	14.1
		(15771953)	(117299)	(0.7)			(1342316)	(9.3)			(2474676)	(18.6)
2.2.1 Reserve Bank	26549	4421	-765		13327		-22128		22897		-25476
2.2.2 Other Banks	14403087	15173204	125938	0.8	667429	5.3	770116	5.3	1760148	15.3	1905825	14.4
		(15767531)	(118064)	(0.8)			(1364444)	(9.5)			(2500153)	(18.8)
2.3 Net Foreign Exchange Assets of Banking Sector	4911766	5085525	9941	0.2	-369228	-7.6	173760	3.5	-419927	-8.6	600690	13.4
2.4 Government's Currency Liabilities to the Public	30285	31400	0	0	778	2.8	1114	3.7	1581	5.8	2609	9.1
2.5 Banking Sector's Net Non-Monetary Liabilities	4193459	4234353	121158	2.9	-216644	-6.2	40894	1.0	-33627	-1.0	968501	29.7
		(4797729)	(116366)	(2.5)			(604270)	(14.4)			(1531877)	(46.9)
2.5.1 Net Non-Monetary Liabilities of RBI	1587565	1520116	9742	0.6	-50516	-3.9	-67449	-4.2	-64644	-4.9	262131	20.8
Note: Figures in parentheses include the impact of merger of a non-bank with a bank.