Money Stock: Components and Sources

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Date: December 22, 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	Dec. 1	Amount	%	Amount	%	Amount	%	Amount	%	Amount	%
	1	2	3	4	5	6	7	8	9	10	11	12
M3	22343760	24033687	226921	1.0	1122861	5.5	1689926	7.6	1799328	9.1	2417097	11.2
		(24159779)	(224779)	(0.9)			(1816019)	(8.1)			(2543189)	(11.8)
1 Components (1.1.+1.2+1.3+1.4)
1.1 Currency with the Public	3276436	3250161	-4660	-0.1	52690	1.7	-26274	-0.8	212165	7.4	161783	5.2
1.2 Demand Deposits with Banks	2320598	2475755	26671	1.1	17495	0.8	155157	6.7	223378	11.1	245268	11.0
1.3 Time Deposits with Banks	16668966	18232186	203689	1.1	1045890	6.9	1563221	9.4	1346789	9.0	1999692	12.3
		(18358279)	(201548)	(1.1)			(1689313)	(10.1)			(2125785)	(13.1)
1.4 ‘Other’ Deposits with Reserve Bank	77761	75584	1220	1.6	6786	11.6	-2177	-2.8	16996	35.2	10354	15.9
2 Sources (2.1+2.2+2.3+2.4-2.5)
2.1 Net Bank Credit to Government	7165533	7402943	34072	0.5	261282	4.0	237411	3.3	452375	7.2	664032	9.9
		(7507306)	(31931)	(0.4)			(341773)	(4.8)			(768395)	(11.4)
2.1.1 Reserve Bank	1451126	1169687	67364		-132099		-281438		8551		-148810
2.1.2 Other Banks	5714407	6233256	-33292	-0.5	393381	7.8	518849	9.1	443824	8.9	812842	15.0
		(6337619)	(-35433)	(-0.6)			(623212)	(10.9)			(917205)	(16.9)
2.2 Bank Credit to Commercial Sector	14429636	15995744	214298	1.4	1228817	9.7	1566108	10.9	1979767	16.7	2150407	15.5
		(16573937)	(211893)	(1.3)			(2144301)	(14.9)			(2728600)	(19.7)
2.2.1 Reserve Bank	26549	5231	-9		3229		-21318		17732		-14569
2.2.2 Other Banks	14403087	15990513	214308	1.4	1225588	9.7	1587426	11.0	1962035	16.5	2164976	15.7
		(16568706)	(211902)	(1.3)			(2165619)	(15.0)			(2743169)	(19.8)
2.3 Net Foreign Exchange Assets of Banking Sector	4911766	5126441	70393	1.4	-192228	-4.0	214676	4.4	-318114	-6.4	464606	10.0
2.4 Government's Currency Liabilities to the Public	30285	32264	325	1.0	1371	4.9	1979	6.5	1845	6.7	2881	9.8
2.5 Banking Sector's Net Non-Monetary Liabilities	4193459	4523706	92168	2.1	176381	5.1	330247	7.9	316545	9.5	864830	23.6
		(5080169)	(89763)	(1.8)			(886710)	(21.1)			(1421293)	(38.8)
2.5.1 Net Non-Monetary Liabilities of RBI	1587565	1661603	52923	3.3	130696	10.0	74038	4.7	91947	6.8	222407	15.5
Note: Figures in parentheses include the impact of merger of a non-bank with a bank.