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Money Stock : Components and Sources
139085383

Money Stock : Components and Sources

(₹ Crore)
Item Outstanding as on Variation over
2025 2026 Fortnight^ Financial Year so far Year-on-Year
2024-25 2025-26 2025 2026
Mar. 31 Jan. 31* Amount % Amount % Amount % Amount % Amount %
1 2 3 4 5 6 7 8 9 10 11 12
M3 27286589 29903539 400854 1.4 1753138 7.0 2616950 9.6 2275188 9.3 3210541 12.0
1 Components (1.1.+1.2+1.3+1.4)                        
1.1 Currency with the Public 3630751 3906775 16840 0.4 93326 2.7 276024 7.6 180196 5.4 403173 11.5
1.2 Demand Deposits with Banks 2840023 3288801 151143 4.8 64824 2.5 448778 15.8 153883 6.2 637089 24.0
1.3 Time Deposits with Banks 20702508 22590697 232183 1.0 1585230 8.4 1888188 9.1 1917225 10.4 2157306 10.6
1.4 ‘Other’ Deposits with Reserve Bank 113307 117267 688 0.6 9758 10.3 3960 3.5 23883 29.7 12973 12.4
2 Sources (2.1+2.2+2.3+2.4-2.5)                        
2.1 Net Bank Credit to Government 8510825 8944038 108448 1.2 384831 5.1 433212 5.1 778214 10.8 955636 12.0
2.1.1 Reserve Bank 1508105 1806724 99410   -145320   298619   113534   758831  
2.1.2 Other Banks 7002720 7137313 9039 0.1 530151 8.3 134593 1.9 664680 10.6 196805 2.8
2.2 Bank Credit to Commercial Sector 19068129 21312724 352190 1.7 1469174 8.5 2244595 11.8 1878782 11.2 2640718 14.1
2.2.1 Reserve Bank 38246 17876 922   8354   -20370   17523   -4885  
2.2.2 Other Banks 19029883 21294849 351268 1.7 1460820 8.5 2264966 11.9 1861260 11.1 2645603 14.2
2.3 Net Foreign Exchange Assets of Banking Sector 6148527 6943129 293995 4.4 181376 3.3 794602 12.9 473425 9.0 1194250 20.8
2.4 Government's Currency Liabilities to the Public 36632 40222 165 0.4 2251 6.7 3591 9.8 2795 8.5 4540 12.7
2.5 Banking Sector's Net Non-Monetary Liabilities 6477524 7336574 353944 5.1 284495 5.2 859050 13.3 858029 17.5 1584602 27.5
2.5.1 Net Non-Monetary Liabilities of RBI 2147427 3097683 258263 9.1 196863 11.0 950257 44.3 265615 15.4 1110686 55.9
Note: Data include the impact of merger of a non-bank with a bank w.e.f. July 14, 2023.
^: With respect to January 15, 2026.
*: With the change in the definition of fortnight vide The Banking Laws (Amendment) Act, 2025, data for money supply are published for the 15th and the last day of the month, effective December 15, 2025.

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