ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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MONEY AND BANKING-Window Dressing with a Vengeance

MONEY AND BANKING Window Dressing with a Vengeance THE expansion in money stock M1 rltiring the celendar year 1982 was lower than that in 1981. In percentage terms the increase at 12.3 per cent was perceptibly lower by two percentage points than the rise in the previous year: but the absolute expansion of Rs 3,028 crore stood lower by only Rs 60 crore than what had been recorded in 1981. About 68 per cent or the money supply expansion was in currency with public and the balance was accounted for by demand deposits. This was in contrast to the trend witnessed in 1981 when demand deposits accounted for as much as 64 per cent and currency for 36 per cent of the increase in M1 Time deposits with hanks rose by Rs 6,140 crore or 16,5 per cent as compared with Rs 5,953 crore or by a higher percentage of 19.1 per cent in 1981, As a result, the growth rate in M3 decelerated to 14.8 per cent from 17.1 per cent in 1981 (see Table 1).

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