2003 2004 Variation Item Feb. 28 Feb. 20 Feb. 27# Week Year 1 2 3 4 5 6 Notes issued 2,71,896 3,15,899 3,14,941 –958 43,045 Notes in circulation 2,71,835 3,15,879 3,14,921 –958 43,086 Notes held in Banking Department 61 20 20 — –41 Deposits Central Government 129 100 101 1 –28 State Governments 579 41 41 — –538 Scheduled Commercial Banks 69,511 71,101 73,001 1,900 3,490 Scheduled State Co-operative Banks 1,741 1,607 1,627 20 –114 Other Banks 4,215 4,556 4,537 –19 322

2 Variation over Item Week End-March2003 End-December 2003 Year Rs.Crore US$ Mn. Rs.Crore US$ Mn. Rs.Crore US$ Mn. Rs.Crore US$ Mn. Rs.Crore US$ Mn. 1 2 3 4 5 6 7 8 9 10 11 Total Reserves 4,90,460 1,08,360 2,996 685 1,32,180 32,932 25,990 6,525 1,43,055 35,483 of which : (a)Foreign Currency Assets 4,71,018 1,04,069 2,997 685* 1,29,542 32,179 25,786 6,452 1,41,391 34,921 (b)Gold 19,432 4,289 — — 2,647 755 207 74 1,673 564 (c) SDRs 10 2 –1 — –9 –2 –3 –1 –9 –2 Memo Item

3 (Rs. crore) Outstanding Variation over Item as on 2004Fortnight Financial year so far Year-on-year Feb. 20# 2002-2003 2003-2004 2003 2004 1 2 3 4 5 6 7 Liabilities to the Banking System Demand and time deposits from Banks 37,013 154 6,118 –3,441 6,551 –534 Borrowings from Banks (1) 12,712 147 –1,699 –6,926 635 –5,838 Other demand and time liabilities(2) 2,373 –345 –293 119 –118 443 Liabilities to Others Aggregate deposits@ 14,69,752 15,947 1,69,581 1,88,899 1,88,415

4 (per cent per annum) 2003 2004 Item / week ended Feb. 21 Jan. 16 Jan. 23 Jan. 30 Feb. 6 Feb. 13 Feb. 20 1 2 3 4 5 6 7 8 Cash Reserve Ratio (per cent)(1) 4.75 4.50 4.50 4.50 4.50 4.50 4.50 Bank Rate 6.25 6.00 6.00 6.00 6.00 6.00 6.00 I.D.B.I.(2) 12.50 12.50 12.50 10.25 10.25 10.25 10.25 Prime Lending Rate(3) 10.75-11.50 10.25-11.00 10.25-11.00 10.25-11.00 10.25-11.00 10.25-11.00 10.25-11.00 Deposit Rate(4) 5.50-6.25 5.00-5.50 5.00-5.50 5.00-5.50 5.00-5.50 5.00-5.50 5

5 (Rs.crore) 2003 - 2004 2002 - 2003 Outstanding Variations Outstanding Variations as on (3) - (2) as on (6) - (5) 2003 2004 2002 2003 Item Mar. 21 Feb. 20 Mar. 22 Feb. 21 1 2 3 4 5 6 7 1. Bank Credit 7,29,215 8,10,965 81,750 5,89,723 7,09,483 1,19,760 (11.2) (20.3) A. Food Credit 49,479 35,268 –14,211 53,978 50,227 –3,751 B. Non-Food Credit 6,79,736 7,75,697 95,961 5,35,745 6,59,256 1,23,511 (14.1) (23.1) 2. Investments £ 92,854 87,774 @ –5,080 81,000 92,983 + 11,983

Foreign 2003 2004 2003 2004 Currency Feb. 28 Feb. 23 Feb. 24 Feb. 25 Feb. 26 Feb. 27 Feb. 28 Feb. 23 Feb. 24 Feb. 25 Feb. 26 Feb. 27 1 2 3 4 5 6 7 8 9 10 11 12 13 14 RBI's Reference Rate (Rs. per Foreign Currency) Foreign Currency per Rs. 100@ U.S. Dollar 47.6700 45.2900 45.2900 45.2700 45.2400 45.2600 (Based on Middle Rates) Euro 51.2500 56.6800 56.7700 57.4200 56.5300 56.2900 FEDAI Indicative Rates (Rs. per Foreign Currency) U.S. {Buying 47.6650 45.2800 45.2850 45.2

(Rs. crore) Outstanding as on Variation over Financial year so far Year-on-year 2003 2004 Fortnight 2002-2003 2003-2004 2003 2004 Item Mar. 31# Feb. 20# Amount % Amount % Amount % Amount % Amount % 1 2 3 4 5 6 7 8 9 10 11 12 13 M3 17,25,222 19,62,720 18,289 0.9 2,15,441 14.4 2,37,497 13.8 2,39,411 16.2 2,48,924 14.5 [16,95,551] [1,84,781] [12.3] [2,08,751] [14.2] Components (i+ii+iii+iv) (i) Currency with the Public 2,70,983 3,12,957 2,227 0.7 30,371 12.6 41,974 15.5

(Rs. crore) Outstanding as on Variation over Financial year so far Year-on-year 2003 2004 Week 2002-2003 2003-2004 2003 2004 Item Mar. 31# Feb. 27# Amount% Amount % Amount% Amount% Amount% 1 2 3 4 5 6 7 8 9 10 11 12 13 Reserve Money 3,69,061 4,05,227 751 0.2 19,035 5.6 36,166 9.8 33,646 10.4 48,222 13.5 Components (i+ii+iii) (i) Currency in circulation 2,82,473 3,22,161 –958 –0.3 27,897 11.1 39,688 14.1 31,662 12.8 43,290 15.5 (ii) Bankers' deposits with RBI 83,346 79

(Rs. crore) Repo/RR REPO REVERSE REPO Net injection(+) Outstanding LAF period Bids Received Bids Accepted Cut-Off Bids Received Bids Accepted Cut-Off absorption (-) of Amount @ Date (Day(s)) Number Amount Number Amount Rate(%) Number Amount Number Amount Rate(%) liquidity (11-6) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 Feb. 23, 2004 1 58 37,505 58 37,505 4.50 — — — — — –37,505 37,505 Feb. 23, 2004 14 17 7,495 17 7,495 4.50 — — — — — –7,495 45,000 Feb. 24, 2004 1 53 39,465 53

(Rs. crore) Date of Date of Notified Bids Received Bids Accepted Devolvement on Total Weigh- Implicit Amount Auction Issue Amount Number Total Face Value Number Total Face Value PDs/SDs* RBI Issue ted Yieldat Outstanding Com- Non- Com- Non- (8+9+ Average Cut-off as on the petitive Com- petitive Com- 10+11) Price Price Date of Issue petitive petitive (per cent) (FaceValue) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 2003-2004 Jul. 2 Jul. 4 500 31 778 — 25 500 — — — 500 98.77 5

Date of Date of Issue Notified Bids Received Bids Accepted Devolvement on Total Weigh- Implicit Amount Auction AmountNumber Total Face Value Number Total Face Value Issue ted Yieldat Outstanding Com- Non- Com- Non- PDs/SDs* RBI (8+9+ Average Cut-off as on the petitive Com- petitive Com- 10+11) Price Price Date of Issue petitive$ petitive$ (per cent) (FaceValue) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 2003-2004 Jul. 9 Jul. 11 1,000 51 2,430 29 21 1,000 29 — — 1,029 95.28 4

(Rs.Crore) Fortnight Ended Date 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Feb. 7 Feb. 8 Feb. 9 Feb. 10 Feb. 11 Feb. 12 Feb. 13 Feb. 14 Feb. 15 Feb. 16 Feb. 17 Feb. 18 Feb. 19 Feb. 20 Feb. 20, 2004 66,011 1,32,023 2,04,822 2,75,968 3,47,053 4,20,490 4,87,197 5,55,698 6,24,198 6,96,053 7,68,024 8,40,105 9,15,024 9,86,134 Feb. 21 Feb. 22 Feb. 23 Feb. 24 Feb. 25 Feb. 26 Feb. 27 Feb. 28 Feb. 29 Mar. 1 Mar. 2 Mar. 3 Mar. 4 Mar. 5 Mar. 5, 2004 68,043 1,36,086 2,11,555 2,85,381 3,5

(Rs. crore) Fortnightended Total Amount Issuedduring Rate of Interest Outstanding # the fortnight # (percent)@ 1 2 3 4 Jan. 10, 2003 1,199 59 4.37 — 6.61 Apr. 4, 2003 1,188 25 5.25 — 7.40 Jul. 11, 2003 2,242 44 4.45 — 6.25 Oct. 3, 2003 3,154 48 3.75 — 6.75 Jan. 9, 2004 4,457 713 3.87 — 5.31 Jan. 23, 2004 4,419 88 3.57 — 6.11 @ : Effective interest rate range per annum.

(Rs. crore) Fortnightended Total Amount Reportedduring Rate of Interest Outstanding thefortnight (percent)@ 1 2 3 4 Apr. 15, 2003 5,839 752 5.25 — 8.15 Jul. 15, 2003 7,069 1,142 5.15 — 6.80 Oct. 15, 2003 6,974 1,027 4.75 — 7.75 Jan. 15, 2004 9,525 1,542 4.63 — 6.00 Feb. 15, 2004 9,355 601 4.73 — 6.75 Feb. 29, 2004 9,379 681 4.60 — 7.50@ : Typical effective discount rate range per annum on issues during the fortnight.

2003 2004 Percentage Variation over Weight Feb. 15 Dec. 20* Feb. 14# Week Month End Year Items / Week ended March 1 2 3 4 5 6 7 8 9 ALL COMMODITIES 100.00 169.5 177.0 179.4 0.1 0.7 4.1 5.8 Primary Articles 22.02 176.6 180.7 182.1 0.2 –0.3 2.2 3.1 (i) Fruits and Vegetables 2.92 176.8 188.6 186.0 –0.9 –3.0 2.2 5.2 Fuel, Power, Light and Lubricants 14.23 244.4 258.4 263.3 — 0.4 2.7 7.7 Manufactured Products 63.75 150.3 157.6 159.7 0.1 1.1 5.4 6.3 (i) Sugar, Khandsari and

2003 2004 Feb. 27 Feb. 23 Feb. 24 Feb. 25 Feb. 26 Feb. 27 1 2 3 4 5 6 7 BSE SENSEX (1978-79=100) 3277.34 5698.04 5734.44 5618.15 5567.12 5667.51 S & P CNX NIFTY (3.11.1995=1000) 1052.95 1808.20 1821.35 1786.80 1765.80 1800.30

WeekEnded Jan. 16, 2004 Jan. 23, 2004 Jan. 30, 2004 Feb. 6, 2004 Feb. 13, 2004 Feb. 20, 2004 Feb. 27, 2004 1 2 3 4 5 6 7 8 1. Banks (a) Borrowings 2,286 2,426 1,682 1,360 1,379 1,336 1,701 (b) Lendings 4,243 4,096 2,982 2,383 2,068 1,776 1,889 2. Primary Dealers (a) Borrowings 5,750 5,522 4,150 4,066 4,020 3,762 3,208 (b) Lendings 51 50 10 51 70 42 95 3. Non-Bank Institutions (a) Lendings 2,925 3,295 2,455 2,957 2,860 2,799 2,647 4. Total (a) Borrowings 8,036 7,948 5,

WeekEnded Items Jan. 23, 2004 Jan. 30, 2004 Feb. 6, 2004 Feb. 13, 2004 Feb. 20, 2004 Feb. 27, 2004 1 2 3 4 5 6 7 I. Outright Transactions (a) Govt. of India Dated Securities 31,647 25,280 34,281 38,579 29,115 38,057 (b) State Government Securities 354 239 677 867 456 625 (c) 91 – Day Treasury Bills 1,300 472 1,744 1,983 1,463 1,409 (d) 364 – Day Treasury Bills 1,638 2,775 2,043 3,747 1,838 2,184 II. RBI* — 50 17 — 18 — @ : Excluding Repo Transactions. * : RBI's sales

Merchant Inter-bank FCY / INR FCY / FCY FCY / INR FCY / FCY Spot Forward Forward Spot Forward Forward Spot Swap Forward Spot Swap Forward PositionDate Cancellation Cancellation 1 2 3 4 5 6 7 8 9 10 11 12 13 Purchases Feb. 9, 2004 645 294 92 21 92 134 1046 2005 83 973 186 19 Feb. 10, 2004 490 345 73 23 141 128 974 1424 27 886 293 23 Feb. 11, 2004 490 257 45 47 115 26 853 1577 69 636 304 5 Feb. 12, 2004 758 220 54 19 229 196 835 2155 60 696 525 55 Feb. 13, 2004 630 262

(Rs. crore) WeekEnded Jan. 24, 2004 Jan. 31, 2004 Feb. 7, 2004 Feb. 14, 2004 Feb. 21, 2004 Feb. 28, 2004 1 2 3 4 5 6 7 Amount 84.06 120.08 64.36 102.68 111.66 165.16

(Rs. crore) Feb. 27, 2004 Variation in Total Treasury Bills Holders Treasury Bills of Different Maturities Total Over the Over End 14 Day 91 Day 364 Day (2+3+4) Week March (Intermediate) (Auction) (Auction) 1 2 3 4 5 6 7 Reserve Bank of India — — — — — –1,019 Banks — 2,896 15,507 18,403 6 –10,491 State Governments 3,949 200 — 4,149 120 –2,245 Others 455 3,643 10,624 14,722 102 9,568

(Face Value in Rs. crore) Gross Amount Raised Net Amount Raised 2003-2004 2002-2003 2002-2003 2003-2004 2002-2003 2002-2003 (Upto Feb. 27, 2004) (Upto Feb. 28, 2003) (Upto Feb. 27, 2004) (Upto Feb. 28, 2003) 1 2 3 4 5 6 7 1. Total 1,35,934*$ 1,25,000 1,25,000 1,04,032 97,580 97,580 of which : 1.1 Devolvement/Private Placement on RBI 21,500 $ 36,175 36,175 2. RBI's OMO Sales 41,780 53,714 53,780 Purchases — — — * : Includes Rs.14,434 crore representing face value of fo

(Amount in Rs. crore) For the Week Ended Feb. 20, 2004 For the Week Ended Feb. 27, 2004 Item Amount YTM (%PA) Indicative** Amount YTM (%PA) Indicative** Minimum Maximum Minimum Maximum 1 2 3 4 5 6 7 I. OutrightTransactions 1. Govt. of India Dated Securities Maturing in the year 2003-04 400 4.0083 4.1933 215 3.8574 4.1292 2004-05 381 4.3949 4.5543 18 4.1399 4.4806 2005-06 237 4.5658 4.6061 24 4.5097 — 2006-07 25 4.7377 4.8717 440 4.7372 5.1344 2007-08 288 4.9524 5.1763