Money and banking

Indian Economic System(BPSC) Bihar civil service (BPSC)

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M1 includes:

currency withpublic

demand deposit withbank

other deposits withRBI

all of theabove

Explanation:

M1 comprises currency outside the banking system, demand deposits with the banking system, and other deposits with the RBI. Currency outside the banking system comprises currency notes issued by the RBI and coins issued by the Government of India less currency notes and coins holdings of the RBI and the banking system.

By: Parvesh Mehta

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