why are cash deposits of government and of the commercial bank with rbi not treated as a part of the money?
Answers
Bhai tu ye bata ki agar humara paisa koi le me bhag jata hai to hum kisi pass nhi ja pate but humara paisa commercial Banko me rahega to hum rulling government se puchhenge.
I hope you have sense to understand my answer .
The Reserve Bank collects data in the form of returns from banks as part of statutory, regulatory, supervisory, policy and research requirements that is used for compilation of certain key banking statistics at aggregate level by the user departments.
2. In view of frequent divergence observed in the data reported by banks for the same item across various returns prescribed by RBI and with an objective to ensure quality and uniformity of the inputs from the banks, the Reserve Bank had constituted an inter-departmental Task-force in December 2014, to provide “harmonised” definitions of major balance sheet/ profit and loss/ off-balance sheet items covered in the banking/ regulatory returns received across RBI departments. Based on the recommendations of the Task-force, the Reserve Bank has formalized harmonized definitions for 107 data elements which are required to be reported in multiple returns.
Harmonised Definitions under Phase I
3. During compilation of the harmonized list, it was observed that a few data elements involve components/sub-components and/or adjustments, the interpretation of which is contextual, depending upon the purpose of the return and the requirements of the user departments. Therefore the definitions provided in the technical guidance note have been kept generic in nature with an objective of ensuring uniformity across banks in data compilation for various returns and thereby improve the data quality. For granular details, relevant master circulars/ directions/ guidance notes need to be referred. However, in the event of conflict between the definition of a term provided in technical guidance note vis-à-vis the statutory/accounting/regulatory (provided in the relevant circulars) definition, the latter would prevail.
Going Forward
4. The issuance of the technical guidance note completes the first phase of the work of the Task Force on Harmonisation of Banking Statistics. The Task Force has also taken up the second phase of the harmonisation exercise and the guidance emanating therefrom will be issued in due course.