Vol. 13, No. 49December 5, 1998 (Rs. crore) Item19971998Variation over Nov. 21Nov. 13Nov. 20WeekYear 123456Notes in circulation1,46,0371,62,2281,60,542-1,68614,505 Notes issued1,46,0771,62,2621,60,578-1,68414,501 Notes held in Banking Department3934362-3Deposits : Central Government5150511- State Governments131512-3-1 Scheduled Commercial Banks50,26769,06672,4113,34522,144 Scheduled State Co-operative Banks93369875355-180 Other Banks9331,1011,053-48120 Others6,9225,57

Variation over As on Nov. 27, 1998WeekEnd-March 1998End-December 1997YearItem Rs. CroreUS$ Mn.Rs. CroreUS$ Mn.Rs. CroreUS$ Mn.Rs. CroreUS$ Mn.Rs. CroreUS$ Mn.1 234567891011Total Reserves1,25,98029,640#277-4210,07527318,6852,28518,3371,526of which : (a) Foreign Currency Assets1,12,63926,491#278-4210,13251618,6612,52618,5952,113 (b) Gold12,9723,062---422-329-41-251-622-673 (c) SDRs36987-1-36586651036486Note:1. Foreign currency assets expressed in US dollar terms include

(Rs. crore) Outstanding Item as on Variation over 1998 Financial year so far Nov. 20# Fortnight1997-981998-99Year 1 2 3456Liabilities to the Banking System Demand and time deposits from banks28,2623092,8394,5808,027 Borrowings from Banks(1)11,516-5732,8644,3565,394 Other demand and time liabilities(2)461-28-250-984172Liabilities to Others Aggregate deposits6,78,007@1,65748,31272,5971,24,096 (0.2)(9.6)(12.0)(22.4) Demand1,00,458-535-3,808-2,05513,656 Time5,77,548@2,192

(Per cent per annum) 19971998Item / week endedNov. 21Oct. 23Oct. 30Nov. 6Nov. 13Nov. 201234567Bank Rate9.009.009.009.009.009.00I.D.B.I.113.5014.0014.0014.0014.0014.00Prime Lending Rate212.5-13.012.75-13.012.75-13.012.75-13.012.75-13.012.75-13.0Deposit Rate39.0-11.59.0-11.59.0-11.59.0-11.59.0-11.59.0-11.5Call Money Rate (Low / High)40.10/7.254.00/9.58.40/9.505.00/8.807.85/8.355.50/9.151. Medium Term Lending Rate (MTLR). 2. Prime Lending Rate relates to five major banks

(Rs. crore) 1998-991997-98 OutstandingVariationsOutstandingVariations as on(3) - (2)as on(6) - (5) Item1998 1997 Mar. 27Nov. 20 Mar.28Nov. 21 12345671.Bank Credit3,24,0793,36,12412,0452,78,4012,86,3177,916 (3.7) (2.8) A.Food Credit12,48516,7024,2177,59711,5693,972 B.Non-Food Credit3,11,5943,19,4217,8282,70,8052,74,7483,944 (2.5) (1.5) 2.Investments £ 33,08443,150@10,06519,41129,963+10,552 A.Commercial Paper2,0664,6702,6046524,7814,130 B.Bonds/Debentures/Preference Sha

Foreign 1997 1998 1997 1998 Currency Nov. 28Nov. 23Nov. 24Nov. 25Nov. 26Nov. 27Nov. 28*Nov. 23Nov. 24Nov. 25Nov. 26Nov. 271234567891011121314 RBI's Reference Rate (Rs. per U.S. Dollar)Foreign Currency per Rs. 100@ 38.570042.380042.430042.420042.480042.5200(Based on Middle Rates) FEDAI Indicative Rates (Rs. per Foreign Currency) U.S. Buying38.560042.375042.425042.420042.480042.52002.59272.35962.35682.35742.35402.3518DollarSelling38.580042.385042.435042.430042.490042.53

(Rs. crore) Outstanding Variation over as on Item Financial year so far 1998 Fortnight1997-981998-99Year Mar. 31#Nov. 6# Amount%Amount%Amount%Amount% 123 4567891011M3 8,25,3899,15,9438690.172,06810.390,55411.01,42,02718.4Components (i+ii+iii+iv) (i)Currency with the Public1,45,1821,59,116-3490.215,76111.913,9349.611,2677.6(ii)Demand deposits with banks1,18,4351,16,0563870.3-4,286-4.1-2,380-2.015,00814.9(iii)Time deposits with banks5,58,1676,37,313@9390.158,88312.879,1

(Rs. crore) OutstandingVariation over as on Item Financial year so far 1998Week1997-981998-9903:55 PM 05/12/199803:56 PM Year Mar. 31#Nov. 21#Amount%Amount%Amount%Amount% 1234567891011Reserve Money2,26,2332,41,9391,8610.86,4253.215,7066.935,52917.2 Components (i+ii+iii) (i)Currency in circulation1,50,8231,64,064-1,686-1.012,0228.813,2418.814,8269.9 of which : cash with banks5,6415,346 (ii)Bankers' deposits with RBI71,80674,2173,3524.7-7,441-12.52,4123.422,08442.4 (iii

(Rs. crore)Date ofDate ofNotifiedCompetitiveDevolvementNon-Compe-TotalWeightedImplicit YieldAmount Outstan-AuctionIssueAmountBidson PDs andtitive BidsIssueAverageat Cut-offding as on the AcceptedRBIAccepted(4+5+6)PricePriceDate of Issue (Face Value)(Face Value)(Face Value)(Face Value) (per cent)(Face Value)12345678910Jan. 2, '98Jan. 3, '98- 35 100 - 135 99.73 7.0390 370 Apr. 3, '98Apr. 4, '98100 100 - - 100 99.72 7.3004 235 Jul. 3, '98Jul. 4, '98100 100 - - 100 99.77

(Rs. crore)Date ofDate ofNotifiedCompetitiveDevolvementNon-Compe-TotalWeightedImplicit YieldAmount Outstan-AuctionIssueAmountBidson PDs andtitive BidsIssueAverageat Cut-offding as on the AcceptedRBIAccepted(4+5+6)PricePriceDate of Issue (Face Value)(Face Value)(Face Value)(Face Value) (per cent)(Face Value)12345678910Jan. 2, '98Jan. 3, '98200 - - 200 200 98.23 7.2076 3,650 Apr. 3, '98Apr. 4, '98100 10 90 25 125 98.20 7.3320 1,525 Jul. 3, '98Jul. 4, '98100 20 80 50 150

(Rs. crore)Date ofDate ofNotifiedBidsDevolvementTotalWeightedImplicit YieldAmount Outstan-AuctionIssueAmountAcceptedon PDs andIssueAverageat Cut-offding as on the RBI(4+5)PricePriceDate of Issue (Face Value)(Face Value)(Face Value) (Per cent)(Face Value)123456789Jan. 14, '98Jan. 16, '98- - - - - - 17,517@Apr. 7, '98 Apr. 11, '98100 6 94 100 92.61 7.9797 14,339Jul. 1, '98 Jul. 3, '98100 - 100 100 92.61 7.9797 10,153@Oct. 7, '98 Oct. 9, '98400 400 - 400 90.36 10.7174 5,

(Rs. crore)Fortnight endedTotal AmountIssued duringRate of Interest Outstanding #the fortnight #(Per cent)@12 34Oct. 10, 1997 7,572 631 7.50 - 12.00 Jan. 2, 1998 6,876 811 6.50 - 11.75 Apr. 10, 1998 14,584 627 8.25 - 24.00 Jul. 17, 1998 7,287 807 8.00 - 12.50 Sep. 11, 1998 5,772 981 7.75 - 13.50 Sep. 25, 1998 5,686 530 8.25 - 12.60 @ : Effective interest rate range per annum.

(Rs. crore)Fortnight endedTotal AmountReported duringRate of Interest Outstandingthe fortnight(Per cent)@1234Jan. 15, 19985,249 1,205 8.05 - 11.75Apr. 15, 19981,030338 11.75 - 18.00Jul. 15, 19983,912 7728.20 - 13.50Oct. 15, 19984,803 1,101 9.50 - 13.40Oct. 31, 19984,874 1,671 9.75 - 13.05Nov. 15, 19985,475 1,61210.18 - 13.25@ : Typical effective discount rate range per annum on issues during the fortnight.

19971998Percentage Variation overItem / Week endedWeightNov. 15Sept. 19*Nov. 14#WeekMonthEndYear March 123456789ALL COMMODITIES100.00331.4356.8359.7-0.10.46.78.5Primary Articles32.30337.8388.2397.4-0.21.314.317.6 (i)Fruits and Vegetables4.09365.1549.2570.3-2.2-0.156.556.2Fuel, Power, Light and Lubricants10.66377.4381.7381.70.50.5-0.61.1Manufactured Products57.04319.1334.3334.2-0.3-0.33.74.7 (i)Sugar, Khandsari and Gur4.06307.7333.4316.2-2.0-5.14.62.8 (ii)Edible Oils2.

19971998 Nov. 27Nov. 23Nov. 24Nov. 25Nov. 26Nov. 271234567BSE SENSEX (1978-79=100)3,628.072,919.572,903.562,881.692,825.082,783.10 S & P CNX NIFTY (3.11.1995=1000)1,046.75847.55841.75824.45812.45810.85 Note : NSE - 50, i.e. Nifty has since been rechristened as 'S & P CNX Nifty' with effect from July 28, 1998.

(Rs. crore) Fortnight Ended Jun. 19, '98Jul. 3, '98Jul. 17, '98Jul. 31, '98Aug. 14, '98Aug. 28, '98Sep. 11, '98 123456781.Banks a)Borrowing8,7109,5399,1029,1149,6298,4729,485 b)Lending6,0816,2947,1277,5507,2566,0245,110 2.Primary Dealers a)Borrowing4,1954,9784,4654,9414,8143,1433,038 b)Lending1,7532,0791,6971,6461,5849981,256 3.Non-Bank Institutions a)Lending5,3445,9184,8034,8335,6494,4754,664

(Rs. crore) Week Ended ItemsOct 23, '98Oct 30, '98Nov 6, '98Nov 13, '98Nov 20, '98Nov 27, '98 1234567I.Outright Transactions a.Govt. of India Dated Securities3933,3583,10511,0894,0145,493 b.State Government Securities72741121118838 c.14 - Day Treasury Bills38326585178-264 d.91 - Day Treasury Bills2581,8253,1222,9262,7742,114 e.364 -Day Treasury Bills1213741,9291,1001521,281II.RBI*462761,7233,696492656@ : Excluding Repo Transactions.* : RBI's sales and purchases includ

(US$ Million) MerchantInter-bank FCY/INRFCY/FCYFCY/INRFCY/FCY SpotForwardForwardSpotForwardForwardSpotSwapForwardSpotSwapForward Cancel- Cancel- Position Date lation lation 12345678910111213Purchases Nov 16, 1998234 41 2125 64 29395455 4468314116Nov 17, 1998194 49 5518 49 38505580 9758816319Nov 18, 1998191 44311019 21423656131 5975019Nov 19, 1998193 44 12759 54542617 8861514357Nov 20, 1998202 403415 42 30393555 734607477 Sales Nov 16, 199826974 1819 6230328440 6067613

(Rs. crore) Week Ended Oct 24, '98Oct 31, '98Nov 7, '98Nov 14, '98Nov 21, '98Nov 28, '981234567Amount6.9719.7135.5542.6345.4629.40Source: National Stock Exchange of India Ltd.

19971998ItemAs on FridayNov. 28Oct. 30Nov. 6Nov. 13Nov. 20Nov. 27 12345678Standard GoldOpening4,0304,3004,2804,3404,3304,330 (Rs. per 10 grams)Closing4,0104,3054,2854,3304,3304,330 Silver (999.0 fineness)Opening7,2757,5757,5257,6107,4807,445 (Rs. per kilogram)Closing7,2707,5407,5457,6207,5057,475Note : In case Friday is a holiday, prices relate to the preceding working day.Source : Bombay Bullion Association Ltd.

(Rs. crore)HoldersNovember 27, 1998Variation in Total Treasury Bills Treasury Bills of Different MaturitiesTotalOver theOver End 14 day14 day91 Day364 Day(2+3+4+5)WeekMarch (Auction)(Intermediate)(Auction)(Auction) 12345678 Reserve Bank of India--4 -4 - -622 Banks 126-4,0723,8428,039 923-5,281 State Governments-3,7321,300-5,032461-2,852 Others 74 345 854 7782,051 -1,039-1,964

(Rs. crore) Gross AmountRepaymentsNet Amount Raised Raised uptoupto1998-991997-98 November 27, 1998November 27, 1998(upto(upto November 27, 1998)November 28, 1997)12345Total72,2538,80363,45026,884

(Rs. crore) For the Week EndedFor the Week Ended November 20, 1998November 27, 1998 ItemsAmountYTM (%PA)AmountYTM (%PA) Indicative Indicative MinimumMaximum MinimumMaximum1 234567I.Outright Transactions 1.Govt. of India Dated Securities Maturing in the year 1998-991793.04509.73652588.57199.8282 1999-001689.903810.97832959.822610.9177 2000-011,07411.059811.44691,04011.134112.5154 2001-0222511.477411.589516311.464711.7043 2002-03$5511.666211.717013011.670811.7167 2003-0