7. Sources of Money Stock (M3) - RBI - Reserve Bank of India
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Published on June 25, 2025
7. Sources of Money Stock (M3)
| (₹ Crore) | |||||
| Sources | Outstanding as on March 31/last reporting Fridays of the month/reporting Fridays | ||||
| 2024-25 | 2024 | 2025 | |||
| Apr. 19 | Mar. 21 | Apr. 04 | Apr. 18 | ||
| 1 | 2 | 3 | 4 | 5 | |
| 1 Net Bank Credit to Government | 8463065 | 7589043 | 8135829 | 8501313 | 8576102 |
| 1 Net Bank Credit to Government (Including Merger) | (8510825) | (7676346) | (8183590) | (8549079) | (8623867) |
| 1.1 RBI’s net credit to Government (1.1.1–1.1.2) | 1508105 | 1221629 | 1180870 | 1577390 | 1626509 |
| 1.1.1 Claims on Government | 1591591 | 1372757 | 1528323 | 1626086 | 1654545 |
| 1.1.1.1 Central Government | 1558903 | 1355261 | 1509131 | 1587786 | 1617753 |
| 1.1.1.2 State Governments | 32688 | 17496 | 19192 | 38299 | 36792 |
| 1.1.2 Government deposits with RBI | 83485 | 151128 | 347453 | 48695 | 28036 |
| 1.1.2.1 Central Government | 83443 | 151086 | 347411 | 48653 | 27993 |
| 1.1.2.2 State Governments | 42 | 42 | 42 | 42 | 42 |
| 1.2 Other Banks’ Credit to Government | 6954959 | 6367414 | 6954959 | 6923923 | 6949593 |
| 1.2 Other Banks Credit to Government (Including Merger) | (7002720) | (6454717) | (7002720) | (6971689) | (6997358) |
| 2 Bank Credit to Commercial Sector | 18646762 | 16729391 | 18644339 | 18794027 | 18583507 |
| 2 Bank Credit to Commercial Sector (Including Merger) | (19068129) | (17250209) | (19065706) | (19210628) | (18995997) |
| 2.1 RBI’s credit to commercial sector | 38246 | 10804 | 35823 | 21538 | 19280 |
| 2.2 Other banks’ credit to commercial sector | 18608516 | 16718586 | 18608516 | 18772489 | 18564228 |
| 2.2 Other banks credit to commercial sector (Including Merger) | (19029883) | (17239405) | (19029883) | (19189091) | (18976717) |
| 2.2.1 Bank credit by commercial banks | 17822605 | 15970978 | 17822605 | 17984731 | 17775378 |
| 2.2.1 Bank credit by commercial banks (Including Merger) | (18243972) | (16491796) | (18243972) | (18401333) | (18187868) |
| 2.2.2 Bank credit by co-operative banks | 766659 | 729036 | 766659 | 768373 | 769470 |
| 2.2.3 Investments by commercial and co-operative banks in other securities | 19252 | 18573 | 19252 | 19385 | 19379 |
| 2.2.3 Investments by commercial and co-operative banks in other securities (Including Merger) | (19252) | (18573) | (19252) | (19385) | (19379) |
| 3 Net Foreign Exchange Assets of Banking Sector (3.1 + 3.2) | 6027804 | 5520761 | 5977361 | 6079051 | 6169394 |
| 3.1 RBIs net foreign exchange assets (3.1.1 - 3.1.2) | 5550947 | 5194340 | 5500504 | 5602194 | 5692537 |
| 3.1.1 Gross foreign assets | 5550956 | 5194342 | 5500509 | 5602201 | 5692537 |
| 3.1.2 Foreign liabilities | 9 | 2 | 5 | 7 | 1 |
| 3.2 Other banks’ net foreign exchange assets | 476857 | 326421 | 476857 | 476857 | 476857 |
| 4 Government’s Currency Liabilities to the Public | 36632 | 33432 | 36306 | 36632 | 36632 |
| 5 Banking Sector’s Net Non-monetary Liabilities | 5947120 | 4718651 | 5579480 | 5627113 | 5793482 |
| 5 Banking Sectors Net Non-monetary Liabilities (Including Merger) | (6356801) | (5220790) | (5989161) | (6031614) | (6195205) |
| 5.1 Net non-monetary liabilities of RBI | 2147427 | 1752989 | 2159098 | 2205404 | 2308158 |
| 5.2 Net non-monetary liabilities of other banks (residual) | 3799694 | 2965662 | 3420382 | 3421709 | 3485324 |
| 5.2 Net non-monetary liabilities of other banks (residual) (Including Merger) | (4209375) | (3467801) | (3830063) | (3826210) | (3887047) |
| M₃(1+2+3+4–5) | 27227143 | 25153975 | 27214355 | 27783909 | 27572152 |
| M3 (1+2+3+4-5) (Including Merger) | (27286589) | (25259958) | (27273801) | (27843776) | (27630685) |
| 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). |
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