7. Sources of Money Stock (M3)

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Published on August 19, 2024

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7. Sources of Money Stock (M3)

(₹ Crore)
Sources	Outstanding as on March 31/last reporting Fridays of the month/reporting Fridays
	2023-24	2023	2024
	2023-24	Jun. 30	May. 31	Jun. 14	Jun. 28
	1	2	3	4	5
1 Net Bank Credit to Government	7512016	7190341	7370024	7425491	7424141
1 Net Bank Credit to Government (Including Merger)	(7603571)		(7454906)	(7510409)	(7489485)
1.1 RBI’s net credit to Government (1.1.1–1.1.2)	1193213	1220251	966036	973578	1026142
1.1.1 Claims on Government	1370428	1414555	1374629	1373298	1355438
1.1.1.1 Central Government	1363828	1404719	1363906	1365304	1348151
1.1.1.2 State Governments	6600	9835	10723	7994	7286
1.1.2 Government deposits with RBI	177215	194303	408593	399720	329296
1.1.2.1 Central Government	177172	194261	408551	399678	329254
1.1.2.2 State Governments	42	42	42	42	42
1.2 Other Banks’ Credit to Government	6318803	5970090	6403988	6451913	6397999
1.2 Other Banks Credit to Government (Including Merger)	(6410358)		(6488870)	(6536831)	(6463344)
2 Bank Credit to Commercial Sector	16672145	15123403	17035758	16964445	17144910
2 Bank Credit to Commercial Sector (Including Merger)	(17202832)		(17546837)	(17470960)	(17645141)
2.1 RBI’s credit to commercial sector	14406	5383	11372	11370	10922
2.2 Other banks’ credit to commercial sector	16657739	15118021	17024387	16953076	17133988
2.2 Other banks credit to commercial sector (Including Merger)	(17188425)		(17535465)	(17459590)	(17634219)
2.2.1 Bank credit by commercial banks	15901477	14383718	16271321	16199903	16381945
2.2.1 Bank credit by commercial banks (Including Merger)	(16432164)		(16782399)	(16706418)	(16882176)
2.2.2 Bank credit by co-operative banks	738194	717536	734587	734494	733421
2.2.3 Investments by commercial and co-operative banks in other securities	18068	16766	18479	18679	18621
2.2.3 Investments by commercial and co-operative banks in other securities (Including Merger)	(18068)		(18479)	(18679)	(18621)
3 Net Foreign Exchange Assets of Banking Sector (3.1 + 3.2)	5543700	4960071	5591936	5608008	5589632
3.1 RBIs net foreign exchange assets (3.1.1 - 3.1.2)	5240824	4717246	5289060	5305132	5286756
3.1.1 Gross foreign assets	5241083	4717503	5289319	5305390	5287015
3.1.2 Foreign liabilities	259	257	259	259	259
3.2 Other banks’ net foreign exchange assets	302876	242825	302876	302876	302876
4 Government’s Currency Liabilities to the Public	33432	30925	33858	33858	34065
5 Banking Sector’s Net Non-monetary Liabilities	4929908	3879992	4516984	4681121	4490909
5 Banking Sectors Net Non-monetary Liabilities (Including Merger)	(5443907)		(5017766)	(5179550)	(4967088)
5.1 Net non-monetary liabilities of RBI	1789875	1481797	1610257	1647273	1631572
5.2 Net non-monetary liabilities of other banks (residual)	3140033	2398194	2906728	3033848	2859337
5.2 Net non-monetary liabilities of other banks (residual) (Including Merger)	(3654032)		(3407510)	(3532277)	(3335515)
M₃(1+2+3+4-5)	24831384	23424748	25514591	25350681	25701839
M3 (1+2+3+4-5) (Including Merger)	(24939627)		(25609770)	(25443685)	(25791236)
Note: Figures in parentheses include the impact of merger of a non-bank with bank. 3.1: Include foreign currency denominated bonds issued by IIFC (UK).