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Document - 7. Sources of Money Stock (M<sub>3</sub>) () or PDF - 7. Sources of Money Stock (M<sub>3</sub>) ()
7. Sources of Money Stock (M3)
Date : Apr 23, 2026
(₹ Crore)
Sources Outstanding as on March 31/last reporting Fortnights of the month/reporting Fortnights
2024-25 2025 2026
Feb. 21 Jan. 31 Feb. 15 Feb. 28
  1 2 3 4 5
1. Net Bank Credit to Government 8510825 8150550 8944038 9046265 9190938
1.1 RBI’s net credit to Government (1.1.1–1.1.2) 1508105 1193390 1806724 1872294 1913185
1.1.1 Claims on Government 1591591 1421675 2078313 2139032 2144130
1.1.1.1 Central Government 1558903 1399564 2063818 2117456 2134344
1.1.1.2 State Governments 32688 22112 14495 21576 9787
1.1.2 Government deposits with RBI 83485 228285 271588 266739 230945
1.1.2.1 Central Government 83443 228243 271545 266695 230901
1.1.2.2 State Governments 42 42 43 43 43
1.2 Other Banks’ Credit to Government 7002720 6957160 7137313 7173971 7277752
2. Bank Credit to Commercial Sector 19068129 18801586 21312579 21262658 21585702
2.1 RBI’s credit to commercial sector 38246 28593 17876 11543 11593
2.2 Other banks’ credit to commercial sector 19029883 18772993 21294703 21251115 21574109
2.2.1 Bank credit by commercial banks 18243972 17989979 20475237 20431530 20751207
2.2.2 Bank credit by co-operative banks 766659 764165 794464 796039 799148
2.2.3 Investments by commercial and co-operative banks in other securities 19252 18849 25003 23545 23753
3. Net Foreign Exchange Assets of Banking Sector (3.1 + 3.2) 6148527 5873487 7056518 7091979 7140338
3.1 RBI’s net foreign exchange assets (3.1.1 - 3.1.2) 5550947 5396630 6356081 6391542 6439901
3.1.1 Gross foreign assets 5550956 5396628 6356068 6391535 6439901
3.1.2 Foreign liabilities 9 -2 -14 -7 0
3.2 Other banks’ net foreign exchange assets 597580 476857 700437 700437 700437
4. Government’s Currency Liabilities to the Public 36632 36017 40222 40372 40537
5. Banking Sector’s Net Non-monetary Liabilities 6477524 5948300 7449818 7586535 7659171
5.1 Net non-monetary liabilities of RBI 2147427 2108450 3097683 3053152 3122568
5.2 Net non-monetary liabilities of other banks (residual) 4330098 3839850 4352134 4533382 4536604
M3(1+2+3+4–5) 27286589 26913341 29903539 29854740 30298344
Note: 3.1: Include foreign currency denominated bonds issued by IIFC (UK).

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