Money is a record that is usually accepted as payment for goods and services as well as for payment of debt.
- CU= Currency Notes + Coins held by the public.
- DD= Net Demand Deposits held by commercial banks.
- M1 Money= CU + DD.
- M2 Money= M1 + Savings deposits of Commercial Banks.
- M3 Money= M3+Total deposits with post office savings excluding National Savings Certificate.
- M4 Money= M3+ Total Deposits with post office savings excluding National Savings Certificate.
- M1, M2- Narrow Money.
- M3, M4- Broad money.
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