India's Reserve Bank gold and foreign currency assets.
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The foreign currency assets of Reserve Bank of India (RBI) -- the central bank -- declined by $137 million during the week ended December 19.
As on December 19, total foreign exchange reserves stood at $27,373 million being composed of $23,742 million of foreign currency assets, $3,514 million of gold and special drawing rights (SDR) to the tune of $117 million. The stock of SDR has gone up by $115 million during the week ended December 19.
In the current financial year foreign exchange reserves have grown by $950 million with the foreign currency assets increasing by $1,375 million and the value of gold declining by $540 million.
During the week ended December 12, reserve money grew by 1.6 per cent, thereby taking the growth in reserve money in the current financial to 4.8 per cent.
As on December 5, the year on year increase in money supply (M3) was 17.5 per cent, a shade higher than 17.4 per cent recorded on November 21.
The decomposition of money supply according to sources reveals that while the year on year growth of net forex assets of banking sector was 22.3 per cent. The bank credit to commercial sector grew by 1.6 per cent while net bank credit to government grew a shade faster at 12.7 per cent.
During the current financial year the growth in money supply was 10.4 per cent. However the growth in bank credit to commercial sector has been tardy at 3.8 per cent.
As on November 28, the aggregate deposits of the banking system stood at Rs 5,57,816 crore, investments at Rs 2,18,495 crore and bank credit stood at Rs 2,87,948 crore.
As on December 5, the total advances by banks to the commercial sector (credit plus investments) stood at Rs 3,07,528 crore.
The cash deposit ratio was 10.63, the investment deposit ratio was 39.17 and credit deposit ratio was 51.62.
The stock of 91 day treasury bills held by RBI has gone up to Rs 200 crore by December 19.
On the other hand the banks held Rs 80 crore worth of 14-day treasury bills, Rs 1,241 crore worth of 91-day treasury bills and Rs 15,829 crore worth of 364 day treasury bills.
State governments held Rs 5,738 crore worth of treasury bills while other entities held Rs 3,263 crore worth of treasury bills. |
