The rupee is getting weaker against the dollar and RBI likely stepped in to sell dollars via state-run banks in early trade on Monday after the rupee opened weaker on global risk-off sentiment. The rupee is trading at 53.46.
In the mean time just thought of sharing some basics from RBI : –
Narrow Money (M1) This is a fortnightly compilation. It consists of:
- Currency notes and coins with the public (Excluding cash on hand of all banks).
- Demand deposits (excluding inter-bank deposits) of all commercial and co-operative banks.
- ‘Other deposits’ held with the Reserve Bank of India (excluding balances in Account No. 1 of the International Monetary Fund, the Reserve Bank of India Employees’ pension, Provident and Guarantee Funds and ad hoc liability items which arise from time to time)
It consists of:
- Savings deposits with Post Office Savings Banks.
M3 It consists of:
- Time deposits of all commercial and co-operative banks (excluding inter bank time deposits)
M4 It consists of:
- Total deposits with the Post Office Savings Organization (excluding National Savings Certificates).
L1 This is a Monthly Compilation. It consists of:
M3 + All Deposits with the Post Office Savings Banks (Excluding National Savings Certificate).
L2 This is a Monthly Compilation. It consists of:
L1 + Term Deposits with Term Lending Institutions and Refinancing Institutions (FIs) + Term borrowing by FIs + Certificates of Deposit issued by FIs
L3 This is a Quarterly Compilation. It consists of:
L2 + Public Deposits of Non-Banking Financial Companies.