Vol. 14, No.3 (Rs. crore) Item 1998 1999Variation over Jan. 2Dec. 25Jan. 1WeekYear 123456Notes in circulation1,43,0671,62,8821,62,199-68319,132 Notes issued1,43,1191,62,9101,62,229-68119,110 Notes held in Banking Department5227303-22Deposits : Central Government515050—-1 State Governments141413-1-1 Scheduled Commercial Banks56,08873,77071,422-2,34815,334 Scheduled State Co-operative Banks76872175433-14 Other Banks9271,1171,029-88102 Others5,0875,6095,62718540 Other li

Variation over As on Jan. 8, 1999WeekEnd-March 1998End-December 1998YearItem Rs. CroreUS$ Mn.Rs. CroreUS$ Mn.Rs. CroreUS$ Mn.Rs. CroreUS$ Mn.Rs. CroreUS$ Mn.1 234567891011Total Reserves1,27,79430,1083279611,889741-605220,6393,068of which : (a) Foreign Currency Assets1,14,95527,0863279612,4481,11126212820,8313,364 (b) Gold12,8083,015——-586-376——-205-298 (c) SDRs317——276-322-76132Note:1. Foreign currency assets expressed in US dollar terms include the effect of revaluat

(Rs. crore) Outstanding as on Variation over Item 1999 Financial year so far Jan. 1#Fortnight1997-981998-99Year1 23456 Liabilities to the Banking System Demand and time deposits from banks29,3787063,3385,6968,644Borrowings from Banks(1) 10,472-8614,9663,3122,248Other demand and time liabilities(2) 59364-97-852151Liabilities to Others Aggregate deposits 6,83,081@3,18758,55077,6711,18,932 (0.5)(11.6)(12.8)(21.1)Demand 1,00,9931,707-132-1,52010,515Time 5,82,088@1,48058,6

(Per cent per annum) 199819981999Item / week endedJan. 2Dec. 4Dec. 11Dec. 18Dec. 25Jan. 11234567Bank 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)42.00/9.505.75/8.107.90/ 8.205.60/ 9.008.60/9.505.50/10.001. Medium Term Lending Rate (MTLR). 2. Prime Lending Rate relates to five major

(Rs. crore) 1998-991997-98 OutstandingVariationsOutstandingVariations as on(3) - (2)as on(6) - (5) Item1998 1999 1997 1998 Mar. 27Jan. 1 Mar. 28Jan. 2 12345671.Bank Credit3,24,0793,44,02419,9452,78,4013,00,52622,125 (6.2) (7.9) A.Food Credit12,48516,1013,6167,59711,8564,259 B.Non-Food Credit3,11,5943,27,92316,3292,70,8052,88,67017,865 (5.2) (6.6) 2.Investments 33,08444,116@11,03219,41132,948 +13,537 A.Commercial Paper2,0664,6372,5716526,0615,409 B.Bonds/Debentures/Pre

Foreign 1998 1999 1998 1999 Currency Jan. 9Jan. 4Jan. 5Jan. 6Jan. 7Jan. 8Jan. 9*Jan. 4Jan. 5Jan. 6Jan. 7Jan. 81234567891011121314 RBI's Reference Rate (Rs. per U.S. Dollar)Foreign Currency per Rs. 100@ 39.710042.510042.560042.510042.520042.5200(Based on Middle Rates) FEDAI Indicative Rates (Rs. per Foreign Currency) U.S. Buying39.690042.475042.550042.505042.515042.51502.51892.35242.34962.35242.35182.3518DollarSelling39.710042.485042.560042.515042.525042.5250 Pound Buy

(Rs. crore) Outstanding Variation over as on Item Financial year so far 1998 Fortnight1997-981998-99Year Mar. 31#Dec. 18# Amount%Amount%Amount%Amount% 123 4567891011M3 8,25,3899,25,2531,9680.271,67410.299,86412.11,51,73119.6Components (i+ii+iii+iv) (i)Currency with the Public1,45,1821,62,2831,2570.812,4029.417,10111.817,79412.3(ii)Demand deposits with banks1,18,4351,14,896-7—-3,774-3.6-3,540-3.013,33613.1(iii)Time deposits with banks5,58,1676,44,055@188—61,93513.485,8

(Rs. crore) OutstandingVariation over as on Item Financial year so far 1998 1999Week1997-981998-99Year Mar. 31#Jan. 1#Amount%Amount%Amount%Amount% 1234567891011Reserve Money2,26,2332,42,429-3,067-1.27,2913.616,1957.235,15217.0 Components (i+ii+iii) (i)Currency in circulation1,50,8231,65,760-683-0.49,0796.614,9379.919,46413.3 of which : cash with banks5,6413,845 * (ii)Bankers' deposits with RBI71,80673,205-2,402-3.2-1,792-3.01,3991.915,42226.7 (iii)"Other" deposits wit

(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

(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 Oct. 9, 1998 6,132 786 7.75 — 13.50 Oct. 23, 1998 6,214 639 8.25 — 13.00 @ : 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 — 13.40Dec. 15, 19985,679 902 9.45 — 12.50Dec. 31, 19985,474 7869.80 — 13.50@ : Typical effective discount rate range per annum on issues during the fortnight.

19971998Percentage Variation overItem / Week endedWeightDec. 27Oct. 31*Dec. 26#WeekMonthEndYear March 123456789ALL COMMODITIES100.00336.8359.8354.8-0.2-1.05.35.3Primary Articles32.30350.2397.1385.1-0.6-2.610.710.0 (i)Fruits and Vegetables4.09374.8590.6456.2-4.2-12.925.221.7Fuel, Power, Light and Lubricants10.66377.4382.1382.1—0.1-0.51.2Manufactured Products57.04321.7334.6332.5—-0.23.23.4 (i)Sugar, Khandsari and Gur4.06311.4321.7293.1-0.2-5.5-3.0-5.9 (ii)Edible Oils2.4

19981999 Jan. 8Jan. 4Jan. 5Jan. 6Jan. 7Jan. 81234567BSE SENSEX (1978-79=100)3,598.163,122.043,149.063,205.683,299.093,397.84 S & P CNX NIFTY (3.11.1995=1000)1,057.75897.80907.20928.25954.70990.05 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 Jul. 31, '98Aug. 14, '98Aug. 28, '98Sep. 11, '98Sep. 25, '98Oct. 9, '98Oct. 23, '98 123456781.Banks a)Borrowing9,1149,6298,4729,4859,1588,9479,287 b)Lending7,5507,2566,0245,1105,4446,2116,702 2.Primary Dealers a)Borrowing4,9414,8143,1433,0383,8245,0594,892 b)Lending1,6461,5849981,2561,1951,0921,433 3.Non-Bank Institutions a)Lending4,8335,6494,4754,6644,7604,4463,952

(Rs. crore) Week Ended ItemsDec. 4, '98Dec. 11, '98Dec. 18, '98Dec. 25, '98Jan. 1, '99Jan 8, '99 1234567I.Outright Transactions a.Govt. of India Dated Securities3,8416,5015,6842,8233,46010,591 b.State Government Securities171130271399 c.14 - Day Treasury Bills115100173194116149 d.91 - Day Treasury Bills1,9431,4151,5118929031,254 e.364 -Day Treasury Bills32037849513444751II.RBI*303749347202291,925@ : Excluding Repo Transactions.* : RBI's sales and purchases include tra

(US$ Million) MerchantInter-bank FCY/INRFCY/FCYFCY/INRFCY/FCY SpotForwardForwardSpotForwardForwardSpotSwapForwardSpotSwapForward Cancel- Cancel- Position Date lation lation 12345678910111213Purchases Dec. 28, 1998299 77 14416 24 12439608 9221211028Dec. 29, 1998290 43 10013 147 70267783 14531326334Dec. 30, 1998332 36881026 19360554103 11819045Dec. 31, 1998161 41 2311142 87224142 192205472Jan. 1, 199986 17156 7 2137129 442134 Sales Dec. 28, 1998313208 666 2512418485 822

(Rs. crore) Week Ended Dec. 5, '98Dec. 12, '98Dec. 19, '98Dec. 26, '98Jan. 2, '99Jan. 9, '991234567Amount7.8611.7724.2835.312.8420.75Source: National Stock Exchange of India Ltd.

1998 1998 1999ItemAs on FridayJan. 9Dec. 11Dec. 18Dec. 25Dec. 31Jan. 8 12345678Standard GoldOpening4,0204,3304,3004,2254,2104,400 (Rs. per 10 grams)Closing4,0254,3254,3004,2204,2254,390 Silver (999.0 fineness)Opening8,2157,3207,3957,3757,4907,745 (Rs. per kilogram)Closing8,2407,3057,4007,3757,5007,745Note : In case Friday is a holiday, prices relate to the preceding working day.Source : Bombay Bullion Association Ltd.

(Rs. crore)HoldersJanuary 8, 1999Variation 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 India42—116 —158 -39 -468 Banks 60—3,5974,6038,260 278-5,061 State Governments—4,3131,100—5,413-22-2,471 Others 98 385 857 1,1662,507 -351-1,508

(Rs. crore) Gross AmountRepaymentsNet Amount Raised Raised uptoupto1998-991997-98 January 8, 1999January 8, 1999(upto(upto January 8, 1999)January 9, 1998)12345Total75,7539,80365,95027,488

(Rs. crore) For the Week EndedFor the Week Ended January 1, 1999 January 8, 1999 ItemsAmountYTM (%PA)AmountYTM (%PA) Indicative Indicative MinimumMaximum MinimumMaximum1 234567I.Outright Transactions 1.Govt. of India Dated Securities Maturing in the year 1998-991228.892310.61383818.75259.9840 1999-002159.440110.65703529.754410.7585 2000-0167011.250311.443977811.063211.4313 2001-0217511.492311.532784611.332311.5997 2002-03$14511.613911.655773511.596911.6808 2003-042281