| Which of the following are included in broad money (M3) in India? |
| 1. Money with the public. |
| 2. Demand deposit with the banks. |
| 3. Term deposit with the banks. |
| 4. Other demand deposit with RBI. |
| Select the correct answer using the codes given below. |
A) 1, 2 and 3
B) 1 and 3
C) (c.) 1, 3 and 4
D) All of these
Correct Answer: D
Solution :
[d] Types of money in the market are M1=Money with the public (currency notes and coinsy)+ Demand deposit of banks (on current and saving bank accounts)+Other demand deposit with the RBI M2=M1+Saving banks deposit with post offices M3=M1+Term deposits with the banks
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