iii monetary and liquidity conditions survey after some tightening during the last four months of 2005 06 remained comfortable first quarter 2006 07 despite sustained growth bank credit eased following reduction in centre s surplus balances with reserve injection arising from foreign exchange interventions accordingly reverted back to absorption through operations under adjustment facility laf issuance securities market stabilisation scheme mss money fiscal year so far has been driven by accretion net assets nfa as against an accumulation domestic deposits recorded strong were able finance continued demand for credit1 banks investments government increase april june declining previous two quarters concomitantly broad m3 at 18 8 per cent on july 7 was above indicative trajectory 15 0 projected annual policy statement
