Table 1: Monetary Trends										(Rs crore)
Money Supply	Outstand-	Fiscal Year Variations
	ing as on
	Mar 31,05	2004-05	2003-04	2002-03	2001-02	2000-01	1999-00	1998-99	1997-98	1996-97	1995-96
M3	2269156	266054	285143	219603	185135	189046	143215	159627	125321	96821	71596
		(13.3)	(16.6)	(14.7)	(14.1)	(16.8)	(14.6)	(19.4)	(18.0)	(16.2)	(13.6)
Excl: RIB,IMD,merger and	2222664	262485	315498	189932	185135	163384	143215	141682	125321	96821	71596
conversion		(13.4)	(19.2)	(13.1)	(14.6)	(14.8)	(14.9)	(17.3)	(18.0)	(16.2)	(13.6)
Components
Curency with the public	357424	41931	43912	30786	31245	20468	20138	23365	13492	13829	17577
		(13.3)	(16.2)	(12.8)	(14.9)	(10.8)	(11.9)	(16.0)	(10.2)	(11.7)	(17.5)
Demand deposits with banks	297088	41049	57282	19558	12929	16589	13293	17663	13391	12101	5040
		(16.0)	(28.8)	(10.9)	(7.8)	(11.1)	(9.7)	(14.9)	(12.7)	(13.0)	(5.7)
Time deposits with banks	1608161	181710	182072	168867	141741	151393	110486	118404	98091	71041	49018
		(12.7)	(16.3)	(16.0)	(15.5)	(19.8)	(16.9)	(18.2)	(21.5)	(18.5)	(14.6)
Excl:RIB+IMD+Merger+Conversion	1561669	178141	212427	139196	141741	125731	110486	100459	98091	71041	49018
		(12.9)	(18.1)	(13.5)	(15.9)	(16.4)	(16.9)	(18.2)	(21.5)	(18.5)	(14.6)
of which: Non-Resident Foreign	76133*	797	-17170	8910	-4546	31178	5798	na	na	na	na
Currency Deposits		(1.1)	(-18.6)	(10.7)	(-5.2)	(54.7)	(11.3)
Other deposits with RBI	6483	1364	1877	392	-780	596	-702	195	347	-150	-39
		(26.6)	(57.9)	(13.8)	-(21.5)	(19.6)	-(18.8)	(5.5)	(10.9)	-(4.5)	-(1.2)
Sources
Net Bank credit to government	762496	16997	68975	86959	77610	70576	54702	56080	41977	30842	35359
		(2.3)	(10.2)	(14.7)	(15.2)	(16.0)	(14.1)	(17.0)	(14.5)	(12.0)	(15.9)
Excl:Conversion	750303	4804	68975	86959	77610	70576	54702	56080	41977	30842	35359
		(0.6)	(10.2)	(14.7)	(15.2)	(16.0)	(14.1)	(17.0)	(14.5)	(12.0)	(15.9)
RBI	-12197	-57104	-75773	-31498	-1699	5613	-4275	17379	10979	2832	19871
		-(127.2)	-(62.8)	-(20.7)	-(1.1)	(3.8)	-(2.8)	(12.9)	(8.8)	(2.3)	(19.6)
Other banks	774694	74103	144747	118457	79309	64963	58977	38701	30998	28010	15488
		(10.6)	(26.0)	(27.1)	(22.1)	(22.2)	(25.2)	(19.8)	(18.9)	(20.5)	(12.8)
Bank credit to commercial sector	1275027	257125	118922	139333	80428	92655	90574	62680	57003	31659	51924
		(25.3)	(13.2)	(18.3)	(11.8)	(15.8)	(18.3)	(14.5)	(15.1)	(9.2)	(17.7)
Excl: Conversion	1242345	224443	118922	139333	80428	92655	90574	62680	57003	31659	51924
		(22.0)	(13.2)	(18.3)	(11.8)	(15.8)	(18.3)	(14.5)	(15.1)	(9.2)	(17.7)
RBI	1389	-672	-987	-2881	-7358	-1983	3044	4040	1939	-608	262
		-(32.6)	-(32.4)	-(48.6)	-(55.4)	-(13.0)	(24.9)	(49.4)	(31.0)	-(8.9)	(4.0)
Other banks	1273637	257796	119909	142214	87786	94638	87530	58640	55064	32267	51662
		(25.4)	(13.4)	(18.9)	(13.2)	(16.6)	(18.1)	(13.8)	(14.9)	(9.6)	(18.1)
Net foreign exchange assets	651998	125412	132871	82680	61215	44172	27795	39758	32599	23355	3109
of banking sector		(23.8)	(33.7)	(26.6)	(24.5)	(21.5)	(15.6)	(28.8)	(30.9)	(28.4)	(3.9)
Govt's currency liabilities	7436	140	225	705	1012	776	732	494	434	415	124
		(1.9)	(3.2)	(11.1)	(18.9)	(17.0)	(19.0)	(14.7)	(14.9)	(16.6)	(5.2)
Banking sectors net non monetary	427801	133620	35850	90074	35130	19133	30588	-615	6692	-10550	18920
liabilities		(45.4)	(13.9)	(53.5)	(26.4)	(16.8)	(36.7)	-(0.7)	(8.7)	-(12.0)	(27.4)
Net non monetary liabilities of RBI	125548	17963	-19556	25921	21875	9123	9682	17258	8098	2887	2939
		(16.7)	-(15.4)	(25.6)	(27.6)	(13.0)	(16.0)	(39.9)	(23.0)	(8.9)	(10.0)
Reserve Money	489128	52616	67451	31090	34659	22757	21270	32882	26418	5528	25175
		(12.1)	(18.3)	(9.2)	(11.4)	(8.1)	(8.2)	(14.5)	(13.2)	(2.8)	(14.9)
Currency in circulation	368649	41621	44555	31499	32769	21144	21215	24790	13839	14648	17888
		(12.7)	(15.8)	(12.6)	(15.0)	(10.7)	(12.1)	(16.4)	(10.1)	(12.0)	(17.1)
Bankers' deposits with RBI	113996	9631	21019	-801	2670	1017	757	7897	12232	-8970	7326
		(9.2)	(25.2)	-(1.0)	(3.3)	(1.3)	(0.9)	(11.0)	(20.5)	-(13.1)	(12.0)
RBI credit to banks incl: NABARD	5258	-161	-1741	-3588	-2217	-3820	3523	6166	91	-14950	8485
		-(3.0)	-(24.3)	-(33.4)	-(17.1)	-(22.8)	(26.6)	(86.9)	(1.3)	-(68.1)	(63.0)
Net foreign exchange assets	612790	128377	126169	94275	66794	31295	27926	22064	21073	20725	-628
of RBI		(26.5)	(35.2)	(35.7)	(33.9)	(18.9)	(20.2)	(19.0)	(22.2)	(28.0)	-(0.8)
Money multiplier (M3/RM) (in multiples)
End-Period	4.64	4.59	4.65	4.43	4.33	4.01	3.78	3.63	3.48	3.08	3.12
Incremental		5.06	4.23	7.06	5.34	8.31	6.73	4.85	4.74	17.51	2.84