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11. Sources of Money Stock (M3)
Date : May 10, 2012

(` Billion)

Sources

Outstandings as on March 31/reporting Fridays of the month/last reporting Friday of the month

2009-10

2010-11

2011-12

March 11, 2011

March 25, 2011

   

1

2

3

4

5

1.

Net Bank Credit to Government (A+B)

16,691.9

19,839.0

23,607.8

18,958.9

19,036.9

 

A. RBI’s net credit to Government (i-ii)

2,115.9

3,965.5

5,296.7

3,130.7

3,163.9

 

(i) Claims on Government (a+b)

2,227.2

3,970.5

5,538.6

3,132.1

3,227.2

 

(a) Central Government

2,226.7

3,941.4

5,528.3

3,114.6

3,219.9

 

(b) State Governments

0.5

29.2

10.3

17.5

7.3

 

(ii) Government deposits with RBI (a+b)

111.3

5.0

241.9

1.4

63.3

 

(a) Central Government

110.9

1.0

241.5

1.0

62.9

 

(b) State Governments

0.4

4.0

0.4

0.4

0.4

 

B. Other Banks’ Credit to Government

14,576.0

15,873.4

18,311.1

15,828.1

15,873.0

2.

Bank Credit to Commercial Sector (A+B)

34,914.1

42,366.8

49,502.8

41,499.3

42,362.4

 

A. RBI’s credit to commercial sector

13.3

21.6

39.6

15.7

17.6

 

B. Other banks’ credit to commercial sector (i+ii+iii)

34,900.8

42,345.1

49,463.2

41,483.6

42,344.8

 

(i) Bank credit by commercial banks

32,447.9

39,420.8

46,116.3

38,579.6

39,420.8

 

(ii) Bank credit by co-operative banks

2,346.3

2,841.8

3,298.2

2,825.3

2,842.2

 

(iii) Investments by commercial and co-operative banks in other securities

106.6

82.5

48.6

78.7

81.7

3.

Net Foreign Exchange Assets of Banking Sector (A+B)

12,814.6

13,933.4

15,236.7

13,792.5

13,879.7

 

A. RBI’s net foreign exchange assets (i-ii)

12,319.4

13,285.7

14,722.0

13,320.4

13,232.0

 

(i) Gross foreign assets

12,319.7

13,285.7

14,722.0

13,320.6

13,232.2

 

(ii) Foreign liabilities

0.2

0.0

0.1

0.2

0.2

 

B. Other banks’ net foreign exchange assets

495.2

647.7

514.7

472.1

647.7

4.

Government’s Currency Liabilities to the Public

112.7

127.2

141.1

125.9

125.9

5.

Banking Sector’s net Non-monetary Liabilities Other than Time Deposits (A+B)

8,506.3

11,225.2

15,047.6

9,973.0

10,369.4

 

A. Net non-monetary liabilities of RBI

3,016.4

3,683.5

5,975.4

3,710.3

3,629.2

 

B. Net non-monetary liabilities of other banks (residual)

5,489.9

7,541.7

9,072.2

6,262.6

6,740.2

M3 (1+2+3+4-5)

56,027.0

65,041.2

73,440.7

64,403.6

65,035.4


No. 11: Sources of Money Stock (M3) (Concld.)

(` Billion)

Sources

Outstandings as on March 31/reporting Fridays of the month/last reporting Friday of the month

November 2011

December 2011

January 2012

February 2012

March 9, 2012

March 23, 2012

 

6

7

8

9

10

11

1.

Net Bank Credit to Government (A+B)

 22,235.0

22,376.7

23,033.6

23,273.5

23,647.6

23,482.1

 

A. RBI’s net credit to Government (i-ii)

 4,169.0

4,500.6

5,184.0

4,883.7

5,052.1

 5,171.0

 

(i) Claims on Government (a+b)

 4,170.5

4,502.0

5,185.4

4,885.1

5,053.5

5,846.3

 

(a) Central Government

 4,157.2

4,501.6

5,184.5

4,884.0

5,053.5

5,845.2

 

(b) State Governments

13.2

0.4

0.9

1.1

 1.1

 

(ii) Government deposits with RBI (a+b)

 1.4

1.4

1.4

1.4

 1.4

675.3

 

(a) Central Government

 1.0

1.0

1.0

1.0

1.0

 665.3

 

(b) State Governments

 0.4

0.4

0.4

0.4

0.4

10.0

 

B. Other Banks’ Credit to Government

 18,065.9

17,876.1

17,849.6

18,389.8

18,595.5

18,311.1

2.

Bank Credit to Commercial Sector (A+B)

 45,148.6

46,993.5

46,872.3

47,435.1

48,242.8

49,502.8

 

A. RBI’s credit to commercial sector

 19.1

32.7

32.6

34.3

39.4

39.7

 

B. Other banks’ credit to commercial sector (i+ii+iii)

45,129.5

46,960.9

46,839.7

47,400.8

48,203.4

49,463.2

 

(i) Bank credit by commercial banks

 41,886.7

43,668.8

43,527.3

44,075.2

44,866.8

46,116.3

 

(ii) Bank credit by co-operative banks

 3,169.8

3,238.9

3,261.6

3,275.4

3,287.3

3,298.2

 

(iii) Investments by commercial and co-operative banks in other securities

73.0

53.2

50.8

50.2

49.3

48.6

3.

Net Foreign Exchange Assets of Banking Sector (A+B)

15,894.4

15,959.3

14,866.4

14,673.3

14,852.7

15,142.6

 

A. RBI’s net foreign exchange assets (i-ii)

 15,433.3

15,444.6

14,351.7

14,158.5

14,337.9

14,627.9

 

(i) Gross foreign assets

 15,433.4

15,444.8

14,351.9

14,158.7

14,338.2

14,628.0

 

(ii) Foreign liabilities

 0.0

0.2

0.2

0.2

0.2

0.1

 

B. Other banks’ net foreign exchange assets

 461.0

514.7

514.7

514.7

514.7

514.7

4.

Government’s Currency Liabilities to the Public

137.2

138.7

139.9

141.1

141.1

141.1

5.

Banking Sector’s net Non-monetary Liabilities Other than Time Deposits (A+B)

13,074.3

13,296.3

13,138.8

13,117.0

13,910.5

14,793.4

 

A. Net non-monetary liabilities of RBI

 5,774.5

6,233.0

5,496.3

5,375.4

5,575.4

5,914.9

 

B. Net non-monetary liabilities of other banks (residual)

7,299.8

7,063.3

7,642.5

7,741.6

8,335.1

8,878.4

M3 (1+2+3+4-5)

 70,340.8

72,172.0

71,773.3

72,405.9

72,973.6

73,475.3

Note: 1. Monetary aggregates as at end-March incorporate data on i) scheduled commercial banks as on last reporting Friday and ii) the Reserve Bank of India pertaining to the last working day of the fiscal year.
2. Net Foreign Exchange Assets of the RBI includes investment in foreign currency denominated bonds issued by IIFC(UK) since March 20,2009.
3. Government balances as on March 31, 2012 are before closure of accounts.
4. Data are provisional.
Also see ‘Notes on Tables’.


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