Which of the following about money supply measures adopted in 1998 is wrong?
M1= currency with public +demand deposits with banking system + other deposits with RBI
M2= M1 + savings deposits of post office savings bank
M3= M1+ time deposits with banking system
None of the above
Explanation:
M4= M3+ all deposits with post office savings banks excluding National Savings Certificate
M4= M3+ all deposits with post office savings banks excluding National Savings Certificate