Economics · Money and Banking
According to the Third Working Group recommendations, New Monetary Aggregate M3 is formulated as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1M2 + All savings bank deposits with commercial banks
- 2M1 + Post Office savings bank deposits
- 3M2 + Bankers' deposits with RBI
- 4M2 + Term deposits of residents with a contractual maturity of over one year + Call/Term borrowings from non-depository financial corporations by the banking system✓
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M2 + Term deposits of residents with a contractual maturity of over one year + Call/Term borrowings from non-depository financial corporations by the banking system
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