LABOUR-Fight for Collective Bargaining Right

so far (7.4 per cent or Rs 3,481 crore) has been lower than that in the comparable period of the last fiscal year in both absolute and relative terms (9.9 per cent or Rs 3,952 crore). The entire increase has been shared by currency and time deposits, while demand deposits declined markedly (because of the statistical factor noted above). In 1979-80, the rise in M3 had been reflected in all the components. the currency expansion of Rs 543 crore in the current year upto October was only slightly higher than that a year ago, whereas time deposits increased enormously by Rs 5,200 crore. This was, however, accompanied by a distinct contraction in demand deposits in the wake of more banks adopting the new classificatory method.