Document - Money Stock : Components and Sources () or PDF - Money Stock : Components and Sources ()
Date : Apr 03, 2026
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 Mar. 15* Amount % Amount % Amount % Amount % Amount %
1 2 3 4 5 6 7 8 9 10 11 12
M3 27286589 30193459 -104885 -0.3 2333941 9.4 2906870 10.7 2335042 9.4 2919657 10.7
1 Components (1.1.+1.2+1.3+1.4)                        
1.1 Currency with the Public 3630751 4052659 66325 1.7 210569 6.2 421908 11.6 201956 5.9 431815 11.9
1.2 Demand Deposits with Banks 2840023 3233109 -137465 -4.1 253135 9.8 393086 13.8 253135 9.8 393086 13.8
1.3 Time Deposits with Banks 20702508 22785811 -37703 -0.2 1854348 9.8 2083302 10.1 1854348 9.8 2083302 10.1
1.4 ‘Other’ Deposits with Reserve Bank 113307 121879 3957 3.4 15889 16.8 8573 7.6 25603 30.2 11454 10.4
2 Sources (2.1+2.2+2.3+2.4-2.5)                        
2.1 Net Bank Credit to Government 8510825 9193522 2584 0.0 580019 7.6 682697 8.0 778837 10.5 1009932 12.3
2.1.1 Reserve Bank 1508105 1948536 35351   -12343   440431   186475   767666  
2.1.2 Other Banks 7002720 7244986 -32766 -0.5 592362 9.2 242266 3.5 592362 9.2 242266 3.5
2.2 Bank Credit to Commercial Sector 19068129 21607251 21549 0.1 1862874 10.8 2539122 13.3 1865409 10.8 2541545 13.3
2.2.1 Reserve Bank 38246 11105 -488   21417   -27141   23952   -24718  
2.2.2 Other Banks 19029883 21596146 22037 0.1 1841458 10.7 2566263 13.5 1841458 10.7 2566263 13.5
2.3 Net Foreign Exchange Assets of Banking Sector 6148527 7071681 -68657 -1.0 530581 9.5 923154 15.0 565042 10.2 973597 16.0
2.4 Government's Currency Liabilities to the Public 36632 40688 151 0.4 2874 8.6 4056 11.1 3108 9.4 4382 12.1
2.5 Banking Sector's Net Non-Monetary Liabilities 6477524 7719684 60512 0.8 642407 11.7 1242159 19.2 877354 16.8 1609799 26.3
2.5.1 Net Non-Monetary Liabilities of RBI 2147427 3112994 -9574 -0.3 368964 20.6 965568 45.0 384165 21.6 953896 44.2
Note: Data include the impact of merger of a non-bank with a bank w.e.f. July 14, 2023.
^: With respect to February 28, 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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