MONEY

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.