Which of the following are included in broad money (M3) in India? 1. Currency with the public. 2. Demand deposits with banks. 3. Time deposits with banks. 4. 'Other' deposits with RBI. Select the correct answer using the code given.
A
1,2 and 3
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B
1 and 2
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C
3 and 4
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D
1,2,3 and 4
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Solution
The correct option is D1,2,3 and 4 M3 (Broad Money) is a measurement of money supply in India. Its components are: (i) Currency with public (ii) Demand deposits with banks (iii) Time deposits with banks (vi) Other deposits with RBI.