8. Monetary Survey

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Published on June 25, 2025

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8. Monetary Survey

(₹ Crore)

Item

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

Monetary Aggregates

NM₁ (1.1+1.2.1+1.3)

6584081

6147336

6571293

6679423

6580113

NM₂ (NM₁ + 1.2.2.1)

15741937

14598412

15729149

16047804

15896809

NM2 (NM1 + 1.2.2.1) (Including Merger)

(15768688)

(14646104)

(15755900)

(16074744)

(15923149)

NM₃ (NM₂ +1.2.2.2 + 1.4 = 2.1 + 2.2 + 2.3 – 2.4 – 2.5)

27850121

25702843

27837333

28418643

28152487

NM3 (NM2 + 1.2.2.2 + 1.4 = 2.1 + 2.2 + 2.3 - 2.4 - 2.5) (Including Merger)

(27909568)

(25808825)

(27896780)

(28478509)

(28211019)

1 Components

1.1 Currency with the Public

3630751

3454255

3620845

3650071

3693751

1.2 Aggregate Deposits of Residents

23190815

21386899

23190815

23744768

23486381

1.2 Aggregate Deposits of Residents (Including Merger)

(23250261)

(21492881)

(23250261)

(23804635)

(23544913)

1.2.1 Demand Deposits

2840023

2606729

2840023

2926145

2782612

1.2.2 Time Deposits of Residents

20350792

18780169

20350792

20818624

20703768

1.2.2 Time Deposits of Residents (Including Merger)

(20410239)

(18886151)

(20410239)

(20878490)

(20762301)

1.2.2.1 Short-term Time Deposits

9157856

8451076

9157856

9368381

9316696

1.2.2.1 Short-term Time Deposits (Including Merger)

(9184607)

(8498768)

(9184607)

(9395321)

(9343035)

1.2.2.1.1 Certificates of Deposits (CDs)

527375

370047

527375

523653

521063

1.2.2.2 Long-term Time Deposits

11192936

10329093

11192936

11450243

11387073

1.2.2.2 Long-term Time Deposits (Including Merger)

(11225631)

(10387383)

(11225631)

(11483170)

(11419265)

1.3 'Other' Deposits with RBI

113307

86352

110426

103207

103750

1.4 Call/Term Funding from Financial Institutions

915248

775338

915248

920596

868605

2 Sources

2.1 Domestic Credit

28333316

25413620

28003657

28570901

28425537

2.1 Domestic Credit (Including Merger)

(28802443)

(26021742)

(28472785)

(29035269)

(28885792)

2.1.1 Net Bank Credit to the Government

8463065

7589043

8135829

8501313

8576102

2.1.1 Net Bank Credit to the Government (Including Merger)

(8510825)

(7676346)

(8183590)

(8549079)

(8623867)

2.1.1.1 Net RBI credit to the Government

1508105

1221629

1180870

1577390

1626509

2.1.1.2 Credit to the Government by the Banking System

6954959

6367414

6954959

6923923

6949593

2.1.1.2 Credit to the Government by the Banking System (Including Merger)

(7002720)

(6454717)

(7002720)

(6971689)

(6997358)

2.1.2 Bank Credit to the Commercial Sector

19870251

17824577

19867828

20069588

19849435

2.1.2 Bank Credit to the Commercial Sector (Including Merger)

(20291618)

(18345395)

(20289195)

(20486190)

(20261925)

2.1.2.1 RBI Credit to the Commercial Sector

38246

10804

35823

21538

19280

2.1.2.2 Credit to the Commercial Sector by the Banking System

19832006

17813773

19832006

20048051

19830156

2.1.2.2 Credit to the Commercial Sector by the Banking System (Including Merger)

(20253372)

(18334591)

(20253372)

(20464652)

(20242645)

2.1.2.2.1 Other Investments ( Non-SLR Securities)

1208294

1079540

1208294

1259278

1249654

2.2 Government's Currency Liabilities to the Public

36632

33432

36306

36632

2.3 Net Foreign Exchange Assets of the Banking Sector

5605462

5106924

5555018

5682160

5727331

2.3.1 Net Foreign Exchange Assets of the RBI

5550947

5194340

5500504

5602194

5692537

2.3.2 Net Foreign Currency Assets of the Banking System

54514

-87416

54514

79966

34794

2.4 Capital Account

4481192

4058263

4550842

4559109

4715903

2.5 Other items (net)

2053777

1295009

1616487

1716442

1722833

Note: Figures in parentheses include the impact of merger of a non-bank with a bank.
NM₂ and NM₃ do not include FCNR (B) deposits.
2.4: Consist of paid-up capital and reserves.
2.5: includes other demand and time liabilities of the banking system.