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Question

M1 in the money stock in India refers to _________.


A
post office saving deposits.
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B
total post office deposits.
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C
currency plus demand deposits with commercial banks plus other deposits with RBI.
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D
time deposits with banks.
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Solution

The correct option is C currency plus demand deposits with commercial banks plus other deposits with RBI.
As per the revised definition of M1 as a measure of money stock in India, it can be defined as currency plus demand deposits with commercial banks plus other deposits with RBI.

Economics

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