India's broad M3 measure of money supply rose 16.6% Oct. 5 against growth of 16.8% two weeks earlier, the Reserve Bank of India said Saturday. India's Central Bank said M3 stood at 14.196 trillion rupees ($1=INR48.035) Oct. 5, up INR143.07 billion, or 1%, from two weeks earlier.
M3 includes currency with the Indian public, bank deposits and other deposits with the Reserve Bank.
The Central Bank's growth target for M3 is 14.50% for the current fiscal year ending March 31, 2002. Bureau Report