(1) During 2007-08, broad money stock (M3) (up to May 23, 2008) increased by 1.9 per cent as compared to 0.4 per cent during the corresponding period of the last year. Similarly, Net foreign exchange assets (NFA) of banking sector (up to May 23, 2008) have increased by 9.0 per cent as compared to a decline of 3.9 per cent in the same period last year
|
Items |
Outstanding as on (Rs. crore) |
% Variations |
|
Financial year so far |
Year-on-year |
|
Mar 31, 08 |
May 23, 08 |
07-08 |
08-09 |
2007 |
2008 |
|
| M3
(I+II+III+IV) |
4002189 |
4077302 |
0.4 |
1.9 |
19.8 |
22.5 |
|
| I. Currency with the public |
567746 |
602706 |
4.4 |
6.2 |
15.5 |
19.6 |
|
| II. Demand deposits with banks |
566829 |
501857 |
-13.4 |
-11.5 |
10.6 |
21.8 |
|
| III. Time deposits with banks |
2858550 |
2966465 |
2.5 |
3.8 |
22.6 |
23.2 |
|
| IV. Other deposits with RBI |
9065 |
6274 |
-28.1 |
-30.8 |
-15.9 |
16.4 |
|
| Sources (1+2+3+4-5) |
|
| 1. Net bank credit to Govt. (A+B) |
904927 |
919540 |
2.9 |
1.6 |
8.5 |
6.7 |
|
| A. RBI's net credit to Govt. |
-110223 |
-144323 |
- |
- |
- |
- |
|
| B. Other bank credit to Govt. |
1015150 |
1063863 |
2.8 |
4.8 |
8.7 |
24.4 |
|
| 2. Bank credit to commercial sector |
2562652 |
2581278 |
-2.2 |
0.7 |
24.0 |
23.9 |
|
| 3. Net foreign exchange assets of banking
sector |
1266297 |
1380062 |
-3.9 |
9.0 |
10.5 |
57.2 |
|
| 4. Government's currency liabilities to
the public |
9228 |
9228 |
2.4 |
- |
8.8 |
9.1 |
|
| 5. Banking sector's net non-monetary
liabilities other than time deposits |
740915 |
812806 |
-12.5 |
9.7 |
0.8 |
62.1 |
Source: Ministry of Finance
(2) During 2007-08 (up to May 23, 2008) gross bank credit increased by 0.7 per cent as compared to the decline of -2.5 per cent during the same period of the previous year. Similarly, non-food credit, (up to May 23, 2008), increased by 0.3 per cent as compared to the decline of -2.4 per cent during the same period of the last year.
|
Items |
Outstanding as on (Rs. Crore) |
% Variations |
| Financial year so far |
Year-on-year |
| Mar28,
08 |
May23, 08 |
2006-07 |
2007-08 |
2007 |
2008 |
|
| 1. Bank credit |
2348493 |
2364417 |
-2.5 |
0.7 |
26.1 |
25.5 |
|
| Food credit |
44399 |
54343 |
-3.6 |
22.4 |
14.9 |
21.1 |
|
| Non-Food credit |
2304094 |
2310074 |
-2.4 |
0.3 |
26.4 |
25.6 |
|
| 2. Aggregate deposit |
3192141 |
3235533 |
-0.5 |
1.4 |
22.2 |
23.0 |
|
| Demand deposit |
516730 |
453323 |
-14.3 |
-12.3 |
11.1 |
23.1 |
|
| Time deposits |
2675411 |
2782210 |
2.7 |
4.0 |
24.2 |
24.1 |
|
| 3. Investments in Govt.
and other approved securities |
972738 |
1020180 |
2.9 |
4.9 |
9.2 |
25.3 |
|
| Government securities |
953525 |
1000887 |
3.0 |
5.0 |
9.8 |
25.2 |
|
| Other approved securities |
19213 |
19293 |
-5.0 |
0.4 |
-16.6 |
31.4 |
Source: Ministry of Finance
(3) As on May 23, 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 1.75/6.75 per cent as compared with 1.95/8.25 per cent on the corresponding date of last year.
|
Item/week ended |
2007 |
2008 |
| May 25 |
May 23 |
|
| Bank Rate |
6.00 |
6.00 |
|
| IDBI1 |
10.25 |
10.25 |
|
| Prime Lending Rate2 |
12.75/13.25 |
12.25-12.75 |
|
| Deposit Rate3 |
7.50-9.00 |
8.25-8.75 |
|
| Call Money Rate4 (Low/High) |
|
| Borrowings |
1.95/8.25 |
1.75/6.75 |
|
| Lending |
1.95/8.25 |
1.75/6.75 |
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
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