1
During 2007-08, broad money stock (M3) (up to March 28, 2008) increased by 20.6 per cent as compared to the growth rate of 21.3 per cent registered during the corresponding period of the last year. Similarly, Net foreign exchange assets (NFA) of banking sector (up to March 28, 2008) have increased by 38.8 per cent as compared to 25.7 per cent in the same period last year.
| Items |
Outstanding as on
( Rs. crore) |
% Variations |
| Financial year so far |
Year-on-year |
| March 31, 2007 |
March 28, 2008 |
2006-07 |
2007-08 |
2006 |
2007 |
| M3(I+II+III+IV) |
3316093 |
3998887 |
21.3 |
20.6 |
21.3 |
20.7 |
|
| I. Currency with the public |
482906 |
568224 |
17.2 |
17.7 |
17.2 |
17.4 |
|
| II. Demand deposits with banks |
475687 |
566829 |
17.0 |
19.2 |
17.0 |
19.2 |
|
| III. Time deposits with banks |
2350004 |
2858550 |
23.3 |
21.6 |
23.3 |
21.8 |
|
| IV. Other deposits with RBI |
7496 |
5284 |
-21.6 |
-29.5 |
-21.6 |
-1.8 |
|
| Sources (1+2+3+4-5) |
|
| 1. Net bank credit to Govt. (A+B) |
837564 |
846914 |
8.1 |
1.1 |
8.1 |
2.2 |
|
| A. RBI's net credit to Govt. |
5752 |
-168235 |
- |
- |
- |
- |
|
| B. Other bank credit to Govt. |
831812 |
1015150 |
9.6 |
22.0 |
9.6 |
22.1 |
|
| 2. Bank credit to commercial sector |
2130078 |
2562742 |
25.9 |
20.3 |
25.9 |
20.3 |
|
| 3. Net foreign exchange assets (NFA) of banking sector |
913179 |
1267884 |
25.7 |
38.8 |
25.7 |
38.8 |
|
| 4. Government's currency liabilities to the public |
8261 |
9228 |
-5.6 |
11.7 |
-5.6 |
11.7 |
|
| 5. Banking sector's net non-monetary liabilities other than time deposits |
572989 |
687881 |
24.4 |
20.1 |
24.0 |
20.8 |
Source: Ministry of Finance
2
During 2007-08 (up to March 28, 2008) gross bank credit increased by 21.6 per cent as compared to 28.1 per cent during the same period of the previous year. Similarly, non-food credit (up to March 28, 2008), increased by 22.3 per cent as compared to an increase of 28.5 per cent during the same period of the last year.
| Items |
Outstanding as on
( Rs. Crore) |
% Variations |
| Financial year so far |
Year-on-year |
| March 30, 2007 |
March 28, 2008 |
2006-07 |
2007-08 |
2007 |
2008 |
| 1. Bank credit |
1931188 |
2348493 |
28.1 |
21.6 |
28.1 |
21.6 |
|
| Food credit |
46520 |
44399 |
14.3 |
-4.6 |
14.3 |
-4.6 |
|
| Non-Food credit |
1884668 |
2304094 |
28.5 |
22.3 |
28.5 |
22.3 |
|
| 2. Aggregate deposit |
2611934 |
3192141 |
23.8 |
22.2 |
23.8 |
22.2 |
|
| Demand deposit |
429731 |
516731 |
17.9 |
20.2 |
17.9 |
20.2 |
|
| Time deposits |
2182203 |
2675411 |
25.1 |
22.6 |
25.1 |
22.6 |
|
3. Investments in Govt. and other approved securities |
791516 |
972738 |
10.3 |
22.9 |
10.3 |
22.9 |
|
| Government securities |
776058 |
953525 |
10.3 |
22.9 |
10.3 |
22.9 |
|
| Other approved securities |
15458 |
19213 |
-7.5 |
24.3 |
-7.5 |
24.3 |
Source: Ministry of Finance
3
As on March 28, 2008, Bank Rate was 6.00 per cent, which is the same as on the corresponding date of last year. Call money rates (borrowing) were in the range of 4.00/9.00 per cent as compared with 6.00/80.00 per cent on the corresponding date of last year.
| Item/week ended |
2007 |
2008 |
| |
March 30 |
March 28 |
| Bank Rate |
6.00 |
6.00 |
|
| IDBI1 |
10.25 |
10.25 |
|
| Prime Lending Rate2 |
12.25-12.50 |
12.25-12.75 |
|
| Deposit Rate3 |
7.50-9.00 |
8.25-9.00 |
|
| Call Money Rate4(Low/High) |
|
| Borrowings |
6.00/80.00 |
4.00/9.00 |
|
| Lending |
6.00/80.00 |
4.00/9.00 |
1. Minimum Term Lending Rate (MTLR)
2. Prime Lending Rate relates to five major Banks
3. Deposit Rate relates to major banks for term deposits of more than one-year maturity.
4. Call money rates are based on data covering 90-95 per cent of total transactions reported by major participants.
Source: Ministry of Finance |
