Money Stock: Components and Sources

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Date: January 05, 2024

(₹ 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. 15	Amount	%	Amount	%	Amount	%	Amount	%	Amount	%
	1	2	3	4	5	6	7	8	9	10	11	12
M3	22343760	23968277	-71004	-0.3	990789	4.8	1624516	7.3	1743116	8.8	2483758	11.6
		(24092247)	(-73126)	(-0.3)			(1748487)	(7.8)			(2607729)	(12.1)
1 Components (1.1.+1.2+1.3+1.4)
1.1 Currency with the Public	3276436	3271577	21416	0.7	92006	3.0	-4859	-0.1	233370	8.1	143882	4.6
1.2 Demand Deposits with Banks	2320598	2462242	-13509	-0.5	-39708	-1.8	141644	6.1	179008	9.0	288959	13.3
1.3 Time Deposits with Banks	16668966	18159363	-78421	-0.4	932790	6.1	1490397	8.9	1315048	8.9	2039968	12.7
		(18283333)	(-80543)	(-0.4)			(1614367)	(9.7)			(2163938)	(13.4)
1.4 ‘Other’ Deposits with Reserve Bank	77761	75095	-489	-0.6	5701	9.8	-2666	-3.4	15689	32.4	10950	17.1
2 Sources (2.1+2.2+2.3+2.4-2.5)
2.1 Net Bank Credit to Government	7165533	7275741	-123897	-1.7	47502	0.7	110208	1.5	500654	8.3	750609	11.5
		(7376546)	(-127454)	(-1.7)			(211014)	(2.9)			(851415)	(13.0)
2.1.1 Reserve Bank	1451126	1113339	-56348		-352639		-337787		-29273		15382
2.1.2 Other Banks	5714407	6162402	-67549	-1.1	400142	8.0	447995	7.8	529927	10.8	735227	13.5
		(6263207)	(-71106)	(-1.1)			(548800)	(9.6)			(836033)	(15.4)
2.2 Bank Credit to Commercial Sector	14429636	15975736	-15694	-0.1	1272349	10.1	1546100	10.7	1977739	16.6	2086867	15.0
		(16551142)	(-18481)	(-0.1)			(2121506)	(14.7)			(2662273)	(19.2)
2.2.1 Reserve Bank	26549	5231	0		-2289		-21318		12337		-9052
2.2.2 Other Banks	14403087	15970506	-15694	-0.1	1274638	10.1	1567419	10.9	1965403	16.5	2095919	15.1
		(16545912)	(-18481)	(-0.1)			(2142825)	(14.9)			(2671324)	(19.3)
2.3 Net Foreign Exchange Assets of Banking Sector	4911766	5205648	79206	1.5	-90144	-1.9	293882	6.0	-274825	-5.5	441729	9.3
2.4 Government's Currency Liabilities to the Public	30285	32264	0	0	1371	4.9	1979	6.5	1845	6.7	2881	9.8
2.5 Banking Sector's Net Non-Monetary Liabilities	4193459	4521113	10619	0.2	240289	6.9	327653	7.8	462297	14.2	798328	21.4
		(5073354)	(6397)	(0.1)			(879894)	(21.0)			(1350569)	(36.3)
2.5.1 Net Non-Monetary Liabilities of RBI	1587565	1737080	75477	4.5	202772	15.5	149515	9.4	93576	6.6	225808	14.9
Note: Figures in parentheses include the impact of merger of a non-bank with a bank.