MONEY AND BANKING-Low Monetary Expansion, but

MONEY AND BANKING
Low Monetary Expansion, but...
MONEY STOCK recorded a sizeable increase in the month of April which marked the end of the 1979-80 busy season and beginning of the fiscal year 1980-81. The expansion in M1 amounted to Rs 582 crores or 2.4 per cent as compared with a rise of Rs 207 crores or 0.9 per cent in the corresponding month of last year; in March 1980, it may be recalled, M1 had contracted sharply by Rs 438 crores. The share of currency in the total increase in M1 amounted to Rs 482 crores and that of demand deposits with banks to Rs 191 crores. 'Other deposits' with RBI, on the other hand, declined by Rs 91 crores.