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ISSN Approved Journal No: 2456-3315 | Impact factor: 8.14 | ESTD Year: 2016
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Paper Title: MONEY SUPPLY IN INDIA (RECENT TRENDS OF BROAD MONEY)
Authors Name: Dr. Lalit Kumar Purohit
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IJRTI_184272
Published Paper Id: IJRTI2210017
Published In: Volume 7 Issue 10, October-2022
DOI:
Abstract: The supply of money means the total quantity of money available at any particular time in an economy. Broad definition of Money Supply has been given by Prof. Milton Friedman. According to him, literally supply of money at any particular time means those dollars with whom people move, by putting them in their pockets and which exits in their bank accounts in the form of demand deposits and term deposits. Thus, in terms of equation: Supply of money (Ms) = Currency with the public + other deposits with Reserve Banks + Total Demand deposits in the banks + total term deposits in the banks. Earlier Government of India and RBI used old concepts of money supply consisted of M1,M2,M3,M4. RBI has redefined the concept of money supply and new concept is given which consists M0,M1,M2,M3. According to this conceptM0 is said Reserve Money, M1 is said Narrow Money and M3 is said Broad Money. The concept of M4 has been abolished. The concept of broad money is more frequently used by RBI. Commercial banks also formulate their lending policy according to it .Broad money is also said Aggregate Monetary Resources(AMR). Broad money consists (1) Currency with the public (2) Demand deposits with the banks and (3) Other deposits with RBI. A study of last ten years (2011-12 to 2021-22) shows declining growth rates of broad money. Growth rate of time deposits which is an important constituent of broad money also decreasing which may be a matter of consideration for both RBI and commercial banks specially keeping the deposit policy in mind.
Keywords: Money supply, Reserve Money, Narrow Money, Broad Money, RBI, Time Deposits.
Cite Article: "MONEY SUPPLY IN INDIA (RECENT TRENDS OF BROAD MONEY)", International Journal of Science & Engineering Development Research (www.ijrti.org), ISSN:2455-2631, Vol.7, Issue 10, page no.107 - 109, October-2022, Available :http://www.ijrti.org/papers/IJRTI2210017.pdf
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ISSN: 2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publication Details: Published Paper ID: IJRTI2210017
Registration ID:184272
Published In: Volume 7 Issue 10, October-2022
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Page No: 107 - 109
Country: Bikaner , RAJASTHAN, INDIA
Research Area: Arts
Publisher : IJ Publication
Published Paper URL : https://www.ijrti.org/viewpaperforall?paper=IJRTI2210017
Published Paper PDF: https://www.ijrti.org/papers/IJRTI2210017
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ISSN: 2456-3315
Impact Factor: 8.14 and ISSN APPROVED
Journal Starting Year (ESTD) : 2016

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