Foreword The Monthly Bulletin of the Reserve Bank of India presents a structured compilation of key macroeconomic and financial statistics relating to the Indian economy. Over time, the scope, coverage, and presentation of these statistics have evolved in response to changes in the economic environment, statistical standards, and data dissemination practices. This Handbook provides an updated and comprehensive guide to the concepts, definitions, classification principles and compilation frameworks underlying the tables published in the Current Statistics section of the RBI Bulletin. The objective of this Handbook is to promote consistency in interpretation and facilitate informed use of data by researchers, market participants, policy analysts, and the wider public. It is expected that this Handbook will serve as a useful reference for users seeking clarity on data coverage, methodological conventions, and statistical relationships presented in the Bulletin. This edition supersedes the earlier version released in 2017. (A R Joshi)
Executive Director
Department of Statistics and Information Management
Reserve Bank of India
April 2026
Preparation and Publication This Handbook has been prepared by the Data Management and Dissemination Division (DMDD), Department of Statistics and Information Management (DSIM), Reserve Bank of India. This Handbook is available on the Database on Indian Economy (DBIE) portal (data.rbi.org.in). For any queries regarding data definitions or table content, users may contact the Department of Statistics and Information Management, Reserve Bank of India, at dbie@rbi.org.in. Edition: April 2026
Supersedes: Comprehensive Guide 2017
Publication Platform: Database on Indian Economy (DBIE)
How to Use This Handbook The RBI Bulletin presents key macroeconomic and financial statistics of the Indian economy in a structured tabular format. The tables included in the Bulletin are generated from the Reserve Bank’s central data repository (Centralised Information Management System, CIMS) to ensure consistency, standardisation, and reliability of published statistics. Data Source and System Integration All Bulletin tables are compiled using validated datasets maintained within the Reserve Bank’s data management systems. These datasets are derived from statutory returns submitted by regulated entities, operational systems of the Bank, data received from the Government and other official agencies, and International statistical reporting frameworks. The compilation process ensures alignment between published tables and the underlying time-series data disseminated through the Database on Indian Economy (DBIE) (https://data.rbi.org.in). Availability of Long Time Series Data While the Bulletin provides summary tables for the recent reference periods, the extended historical time series datasets underlying these tables are available through the Database on Indian Economy (DBIE). The DBIE allows users to access subject-wise datasets and download data in reusable formats. Frequency of Data Updates The tables in the Bulletin follow defined update frequencies, depending on the nature of the underlying data: -
Daily (e.g., liquidity operations) -
Weekly (e.g., RBI balance sheet indicators) -
Fortnightly (e.g., monetary aggregates and banking indicators) -
Monthly (e.g., price indices, trade statistics) -
Quarterly (e.g., balance of payments, international investment position) -
Annual / Financial Year-end (select indicators) Each table reflects the reference period applicable to the dataset. Several summary tables may present indicators of different frequencies together for comparative reference. Provisional and Final Data Certain datasets published in the Bulletin may initially be marked as provisional, depending on the release practices of the source agency or reporting system. These are updated to final status as and when revisions are received from the source. Data Consistency and Publication The Reserve Bank follows established statistical standards and internal validation procedures to ensure accuracy, consistency and coherence across datasets published in the Bulletin and on DBIE. Structure of Table Descriptions Each table description in this Handbook follows a standard structure to ensure clarity and consistency in interpretation. The Coverage section outlines the dataset's scope and the economic indicators included. Data Presentation Features detail the frequency, measurement units, and key aspects of data presentation. The Notes section offers additional information on compilation methods, methodological considerations, institutional arrangements, or definitional clarifications to help ensure the data are understood correctly. Data Compilation Framework Data presented in the RBI Bulletin are generated from the Reserve Bank’s Data Warehouse through the Centralised Information Management System (CIMS), based on statutory returns, administrative data and information received from source agencies. Time-series data for all tables are available on the Database on Indian Economy (DBIE). Data are compiled from statutory returns (e.g., Form A, Form B), operational systems (e-Kuber, CCIL), and administrative reporting from Authorised Dealers and other regulated entities. Compilation broadly aligns with internationally accepted statistical standards where applicable (e.g., IMF BPM6 for BoP and IIP). Disclaimer While all efforts are made to ensure accuracy and consistency, data are subject to reporting constraints, revisions, and definitional changes over time. The interpretations, analyses, and conclusions drawn from the data are solely the responsibility of the users. The Reserve Bank of India is not responsible and shall not be liable for any loss, damage, or consequences arising from the use of the data or reliance placed on this Handbook. Concepts, Definitions and Statistical Framework This section outlines the key statistical concepts, classification principles and compilation frameworks used across the tables in this Handbook. Detailed methodological notes, where required, are provided in the respective table descriptions. 1. General Statistical Conventions 1.1 Reference Period Data are presented as end-of-period values (e.g., reporting fortnight positions, month-end or quarter-end), period averages (e.g., financial year averages), or cumulative financial year totals, as applicable. Annual data for certain indicators may represent averages of monthly observations rather than end-of-period values. 1.2 Growth Rates Growth rates generally represent year-on-year (Y-o-Y) changes, comparing the latest observation with the corresponding period of the previous year, unless otherwise specified. Monthly data are compared with the same month of the previous year, while quarterly data are compared with the corresponding quarter of the previous year. 1.3 Provisional and Final Data Data may be provisional at the time of first release and are revised subsequently in accordance with the revision policy of the respective source agency. 1.4 Financial Year The financial year in India runs from April to March. 1.5 Stock and Flow Data Stock data refer to the position at a point in time (e.g., month-end or quarter-end). Flow data refer to transactions recorded over a period (e.g., cumulative financial year or quarterly flows). Most monetary and banking indicators represent stock positions, whereas indicators relating to trade, financial transactions and fiscal operations generally represent flow variables. 1.6 Base Year in Index Numbers Many macroeconomic indicators, such as the Consumer Price Index (CPI), Wholesale Price Index (WPI), and Index of Industrial Production (IIP), are compiled as index numbers based on a specified base year. The base year serves as the benchmark period against which changes are measured, and index values indicate relative movements compared to the base year (set equal to 100). 1.7 Units and Rounding Conventions Data are generally presented in ₹ crore, percentages, or index numbers (base = 100), as applicable. Minor differences in totals may arise due to rounding. 1.8 Data Frequency Indicators are compiled at different frequencies depending on the source and reporting framework. Monetary and banking data are typically available at fortnightly or monthly frequency, price indices are compiled monthly, national accounts data are available quarterly and annually, while fiscal data are compiled on a monthly and annual basis. 2. National Accounts Concepts1 2.1. Gross Value Added (GVA) at Basic Prices GVA at basic prices measures the value of output produced by a sector after deducting the value of intermediate consumption. It forms the production-side measure of economic activity. Sectoral GVA includes Agriculture, Industry and Services. GVA is compiled using the production approach in accordance with the System of National Accounts (SNA). Details on compilation methodology are published by the Ministry of Statistics and Programme Implementation (MoSPI), Government of India. 2.2. Constant and Current Prices 2.3. Gross Fixed Capital Formation (GFCF) Gross Fixed Capital Formation (GFCF) represents the value of acquisition less disposal of fixed assets by resident producers during an accounting period. Fixed assets are those used repeatedly or continuously in production for more than one year. These include buildings and structures, machinery, and equipment, cultivated biological resources, and intellectual property products such as research and development and software. 2.4. Household Financial Savings (Net Financial Assets) Net financial savings of households represent the difference between financial assets and financial liabilities during a period. It reflects the extent to which households are net providers of funds to the economy. 2.5. Household Financial Assets Household financial assets include bank deposits, non-bank deposits, life insurance funds, currency holdings, mutual fund investments, pension funds and small savings instruments. Household Sector. The household sector comprises individuals and unincorporated enterprises and represents a key source of financial savings in the economy. 2.6. Final Consumption Expenditure Final consumption expenditure represents the total expenditure on goods and services by households and government for consumption purposes. It comprises private final consumption expenditure (PFCE) and government final consumption expenditure (GFCE). 2.7 GDP and GVA Relationship Gross Domestic Product (GDP) at market prices is derived from GVA at basic prices by adding product taxes and subtracting product subsidies. 3. Monetary and Banking Concepts 3.1. Monetary Aggregates Definition Monetary aggregates refer to measures of money supply, representing liabilities of the banking system to the public, excluding inter-bank liabilities. Measures -
M1 (Narrow Money): Currency with the public + demand deposits + other deposits with RBI -
M2: M1 + post office savings deposits -
M3 (Broad Money): M1 + time deposits with banks -
M4: M3 + total post office deposits Sources of Money Supply (M3) Money supply is derived from the consolidated balance sheet of the banking sector (RBI and commercial banks) and comprises: -
Net bank credit to government -
Bank credit to the commercial sector -
Net foreign exchange assets -
Government currency liabilities to the public -
Adjusted for net non-monetary liabilities (as a balancing item) Liquidity Aggregates -
L1 = NM3 + Postal Deposits -
L2 = L1 + Liabilities of Financial Institutions (term deposits, CDs, etc.) -
L3 = L2 + Public Deposits with Non-banking Financial Companies Liquidity aggregates (L1, L2 and L3) provide a broader measure of liquidity in the financial system by including, in addition to money supply, liabilities of financial institutions and non-banking financial entities. Liquidity aggregates are derived using NM3 as the base monetary aggregate. NM3 represents the residency-based broad money aggregate as recommended by WGMS. 3.2 Monetary Survey Concepts Definition The monetary survey presents a consolidated balance sheet of the banking sector, combining the Reserve Bank of India and the banking system, and provides the framework for analysing money supply. Methodological Framework The compilation of monetary aggregates and the Monetary Survey in India is based on the recommendations of the Working Group on Money Supply: Analytics and Methodology of Compilation (WGMS), chaired by Dr Y. V. Reddy (1998). The WGMS introduced refined monetary aggregates (NM1, NM2, NM3) based on the residency concept and an improved classification of the banking system's deposits and liabilities. Refined monetary aggregates are defined as follows: NM1: Currency with the public + demand deposits + ‘other’ deposits with RBI NM2: NM1 + short-term time deposits of residents (including certificates of deposit) NM3: NM2 + long-term time deposits of residents + call/term funding from financial institutions Components The monetary survey presents: Key Aggregates Key Concepts -
RBI Credit to Banks: Lending by RBI to banks under liquidity facilities -
RBI Credit to Commercial Sector: Direct credit extended by RBI to non-government entities -
Net Non-Monetary Liabilities (RBI): Capital, reserves and other liabilities not included in monetary aggregates -
Net Non-Monetary Liabilities (Banking System): Capital, reserves and other non-monetary liabilities of RBI and commercial banks -
Domestic credit comprises net bank credit to government and bank credit to the commercial sector. Government Currency Liabilities Government currency liabilities comprise rupee coins and small coins issued by the Government of India and held by the public. 3.3 Reserve Money (M0) Reserve money (M0), also known as base money, comprises: It represents the monetary liabilities of the Reserve Bank and forms the foundation for money supply expansion. On the sources side, reserve money is derived as the sum of net Reserve Bank credit to government, Reserve Bank credit to banks and the commercial sector, net foreign exchange assets and government currency liabilities to the public, adjusted for net non-monetary liabilities. 3.4 Components of Money Supply (M3) -
Currency with the Public: Currency in circulation excluding cash held by banks -
Notes in Circulation: Currency notes issued by RBI and held outside RBI -
Circulation of Rupee Coin: Coins issued by Government of India held by the public -
Circulation of Small Coins: Coins of denominations below one rupee -
Cash on Hand with Banks: Currency held by banks for operational purposes -
Deposit Money of the Public: Demand deposits held by the public with the banking system, including other deposits with RBI -
Other Deposits with RBI: Deposits of foreign central banks, financial institutions and specified entities -
Post Office Deposits: Savings, time and recurring deposits mobilised through post office schemes 3.5 Net Bank Credit to Government Net bank credit to government includes RBI’s net credit to government and banks’ investment in government securities. 3.6 Reporting Fortnight For banking and monetary statistics, a fortnight refers to the period from 1st to the 15th and from the 16th to the last day of the calendar month, both days inclusive. Statistical positions are generally reported as on the 15th and the last day of the month, in accordance with the Banking Laws (Amendment) Act, 2025. Earlier statistical series were compiled with reference to reporting Fridays; however, with effect from December 15, 2025, fortnightly data correspond to the mid-month (15th) and month-end positions. 3.7 Net Demand and Time Liabilities (NDTL) Net demand and time liabilities represent the total demand and time liabilities of banks, forming the base for CRR and SLR requirements. 3.8 Deposits and Banking Liabilities -
Deposits: Funds accepted by banks, repayable on demand or otherwise, including demand, savings and term deposits -
Aggregate Deposits of Residents: Total deposits held by resident sectors with the banking system -
Short-term Time Deposits: Deposits with maturity up to one year -
Long-term Time Deposits: Deposits with maturity beyond one year -
Inter-bank: Transactions between banks -
Others: Deposits from non-bank entities including households, corporates and government 3.9 Bank Credit and Components Definition Bank credit refers to loans and advances extended by banks to various sectors of the economy. Components Classification -
Domestic Credit: Credit extended to government and commercial sectors -
Non-Food Credit: Non-food credit refers to total bank credit excluding credit extended for the procurement of food grains by public agencies such as FCI and State Governments. -
Food Credit: Credit extended to agencies such as FCI and State Governments Types of Facilities -
Cash Credit: Working capital facility linked to inventory and receivables -
Overdraft: Withdrawal beyond account balance up to a sanctioned limit -
Bills Purchased/Discounted: Financing against trade bills Gross Bank Credit: Total credit before provisions, write-offs or securitisation (aligned with BSR-1 framework) Personal Loans: Personal Loans are loans extended to individuals for consumption purposes, such as housing, education, vehicles, and credit cards. 3.10 Investment Classification Investment in Government Securities refers to banks’ holdings of central and state government securities, including those maintained to meet Statutory Liquidity Ratio (SLR) requirements. -
Government Securities: Investments in central and state government securities and treasury bills -
SLR Securities: Approved securities held to meet SLR requirements -
Non-SLR Securities: Corporate bonds, shares and other financial instruments -
Commercial Paper: Unsecured short-term instrument issued by corporates -
Equity Shares: Ownership instruments issued by corporates -
Bonds and Debentures: Fixed-income instruments representing borrowings -
Mutual Fund Units: Investments in pooled funds managed by asset management companies 3.11 Interbank and System Concepts -
Liabilities to Banking System: Deposits and borrowings from other banks -
Liabilities to Others: Deposits and borrowings from non-bank entities -
Assets with Banking System: Balances and lending with other banks -
Net Inter-bank Liabilities: Net obligations between banks -
Other Demand and Time Liabilities (ODTL): Liabilities other than deposits -
Credit to Primary Dealers: Lending to primary dealers -
Money at Call and Short Notice: Short-term interbank funds -
Call/Notice/Term Money: Classification based on maturity 3.12 RBI Balance Sheet Concepts Structure The Reserve Bank’s balance sheet comprises two broad segments: Issue Department -
Notes Issued: Total currency liabilities, comprising notes in circulation and notes held in the Banking Department -
Assets of Issue Department: The Issue Department is responsible for currency issuance. Its liabilities comprise notes issued, including currency in circulation and notes held by the Banking Department. These liabilities are backed by eligible assets such as gold, foreign securities and rupee coins in accordance with the statutory provisions of the RBI Act, 1934. Banking Department Liabilities -
Government Deposits: Balances maintained by the Central and State Governments with the RBI. -
Bank Deposits: Bank deposits primarily represent balances maintained to meet Cash Reserve Ratio (CRR) requirements and for settlement of interbank transactions. -
Other Deposits: Deposits of financial institutions, foreign central banks and other entities -
Other Liabilities: Contingency fund, asset development fund, revaluation accounts and other provisions Assets -
Foreign Currency Assets / Foreign Securities: Foreign currency assets include investments in foreign government securities, deposits with other central banks and international institutions, and are subject to valuation changes arising from exchange rate movements. -
Investments: Holdings of government securities and other approved instruments -
Loans and Advances: Credit extended to Central and State Governments, banks and other institutions -
Bills Purchased and Discounted: Commercial bills acquired by RBI -
Balances Held Abroad: Foreign currency balances maintained with foreign central banks and international institutions -
Gold: Gold coin and bullion held as part of reserve assets -
Other Assets: Fixed assets, accrued income, staff advances and miscellaneous assets Key Concepts -
Notes in Circulation: Currency notes issued by RBI and held by the public and banks, excluding those held within RBI -
Notes held in Banking Department: Currency held by RBI for operational purposes -
Total Liabilities or Assets: Balance sheet identity where total liabilities equal total assets -
Claims on Government: Loans and investments of RBI in government securities In the RBI survey framework, capital account and other items (net) act as balancing items, ensuring consistency between sources and components of reserve money. Valuation and Revaluation Accounts Certain balance sheet items are subject to periodic valuation. Changes in the value of foreign currency assets, gold and securities arising from exchange rate movements, gold prices and market yields are reflected through revaluation accounts such as the Currency and Gold Revaluation Account (CGRA) and Investment Revaluation Accounts, rather than being directly taken to the profit and loss account. 4. Rates and Ratios 4.1 Cash Reserve Ratio (CRR) The proportion of NDTL that scheduled commercial banks are required to maintain as cash balances with RBI. CRR requirements are governed under Section 42 of the Reserve Bank of India Act, 1934. 4.2 Statutory Liquidity Ratio (SLR) The proportion of NDTL that banks must maintain in specified liquid assets, including government securities. SLR requirements are governed under Section 24 of the Banking Regulation Act, 1949. 4.3 Credit-Deposit Ratio (CD Ratio) The ratio of total bank credit (gross loans and advances) to total deposits of the banking system, expressed as a percentage. It indicates the extent to which deposits mobilised by banks are deployed in lending activities. 4.4 Incremental Credit-Deposit Ratio Incremental Credit-Deposit Ratio is the ratio of the change in bank credit to the change in deposits over a specified period. 4.5 Investment-Deposit Ratio Investment-Deposit Ratio is the ratio of total investments of banks to total deposits. 4.6 Incremental Investment-Deposit Ratio Incremental Investment-Deposit Ratio is the ratio of the change in investments to the change in deposits over a specified period (ΔInvestments / ΔDeposits). 4.7 Cash-Deposit Ratio Cash-Deposit Ratio is the ratio of cash balances maintained by banks to their total deposits. 4.8 Policy Repo Rate Policy Repo Rate is the rate at which the Reserve Bank of India lends short-term funds to banks against government securities under the liquidity adjustment facility. 4.9 Standing Deposit Facility (SDF) Rate Standing Deposit Facility (SDF) Rate is the rate at which the Reserve Bank absorbs liquidity from banks without collateral under the liquidity adjustment framework. 4.10 Marginal Standing Facility (MSF) Rate The Marginal Standing Facility (MSF) Rate is the rate at which banks can borrow overnight funds from the Reserve Bank of India against approved securities in excess of their statutory liquidity ratio. 4.11 Base Rate Base Rate is the minimum interest rate below which banks are not permitted to lend, except in specified cases, reflecting the cost of funds and operating expenses of banks. 4.12 Fixed Reverse Repo Rate The rate at which banks deposit surplus funds with the Reserve Bank of India under the liquidity adjustment facility. 4.13 Bank Rate Bank Rate is the rate at which the Reserve Bank of India is prepared to buy or rediscount bills of exchange or other commercial paper. 4.14 Marginal Cost of Funds-Based Lending Rate (MCLR) MCLR is the minimum interest rate for lending determined by banks based on the marginal cost of funds, operating costs, and tenor premium. 4.15 Term Deposit Rate (>1 Year) Term Deposit Rate refers to the interest rate offered by banks on deposits with maturity exceeding one year. 4.16 Savings Deposit Rate Savings Deposit Rate is the interest rate paid by banks on balances maintained in savings accounts. 4.17 Call Money Rate (Weighted Average) The Call Money Rate is the weighted average interest rate, based on transaction volumes, at which banks borrow and lend overnight funds in the interbank call money market. 5. Financial Market Concepts 5.1 Liquidity Management Framework The Reserve Bank manages systemic liquidity through a corridor framework, with the policy repo rate as the operating target. The corridor is defined by the SDF rate as the floor and the MSF rate as the ceiling. Key Instruments -
Repo: Liquidity injection against eligible collateral -
Reverse Repo: Liquidity absorption under the liquidity adjustment facility. -
SDF: Standing Deposit Facility (SDF) serves as the floor of the liquidity corridor. -
Marginal Standing Facility (MSF): Overnight borrowing facility above the policy repo rate -
Liquidity Adjustment Facility (LAF): Framework for managing short-term liquidity Liquidity Operations -
Open Market Operations (OMO): Outright purchase or sale of government securities to inject or absorb durable liquidity -
Variable Rate Repo: Auction-based liquidity injection at market-determined rates -
Variable Rate Reverse Repo: Auction-based liquidity absorption through auctions -
Standing Liquidity Facilities: On-demand liquidity support to eligible institutions, including MSF and refinance facilities. -
Liquidity facilities for Primary Dealers (PDs) refer to funding support provided by the Reserve Bank to primary dealers to facilitate smooth functioning of the government securities market. -
Net Liquidity Injection/Absorption: Net amount of liquidity injected into or absorbed from the banking system through various liquidity operations of the Reserve Bank. Net liquidity injection/absorption is computed as the sum of liquidity-providing operations (such as repo, MSF, OMO purchases) minus liquidity-absorbing operations (such as reverse repo, SDF, and OMO sales). 5.2 Money Market Instruments Money market instruments are short-term instruments used for liquidity management. -
Call Money: Overnight unsecured funds -
Notice Money: Funds with maturity of 2–14 days -
Term Money: Funds with maturity beyond 14 days up to one year -
Commercial Paper (CP): Defined above -
Certificates of Deposit (CD): Negotiable instruments issued by banks These instruments are issued at market-determined interest rates and are reported in terms of outstanding amounts and issuance during the period. 5.3 Government Securities Government securities represent borrowings of the Central and State Governments. Instruments -
Treasury Bills (T-Bills): Short-term instruments (91, 182, 364 days), issued at a discount and redeemed at face value. Treasury Bills are issued in standard maturities of 91-day, 182-day, and 364-day, along with 14-day intermediate Treasury Bills for state government cash management. -
Treasury Bill Yield: Return determined through auction for short-term securities -
10-Year Government Security Yield: Benchmark long-term interest rate Auction Mechanism -
Competitive Bidding: Investors quote price or yield and are allotted securities based on cut-off -
Non-Competitive Bidding: Investors receive allotment at weighted average price without quoting yield -
Government securities and treasury bills are issued through both competitive and non-competitive bidding in auctions. State Government Instruments Ownership of Government Securities -
Ownership of government securities refers to the distribution of holdings of central and state government debt across different institutional sectors such as banks, insurance companies, provident and pension funds, mutual funds, foreign portfolio investors, the Reserve Bank of India, and others. 5.4 Yield Concepts -
Cut-off Yield: Yield determined in auction -
Coupon Yield: Annual coupon payment as a percentage of face value -
Current Yield: Annual coupon payment as a percentage of market price -
Yield to Maturity (YTM): Internal rate of return if the security is held till maturity Securities may be issued through yield-based or price-based auctions. The 10-year G-sec par yield (FBIL) represents the benchmark long-term sovereign yield published by Financial Benchmark India Pvt. Ltd. (FBIL), widely used as a reference rate for financial markets 5.5 Financial Resource Concepts -
Financial resources are classified into bank and non-bank sources, and further into domestic and foreign sources. -
Flow of Financial Resources: Incremental financing raised during a period from bank and non-bank sources. -
Outstanding Credit: Stock of credit at a point in time -
Net Basis Reporting: Data presented net of intermediation overlaps, except for equity and hybrid instruments which are shown on a gross basis -
Hybrid Instruments (REITs/InvITs): Instruments combining features of equity and debt, including Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs) -
Capital issues include public and rights issuances of equity shares and public issues of bonds and debentures. 5.6 Call/Term Funding Call/term funding refers to borrowings by banks from financial institutions in call or term money markets. Facility Limits and Utilisation 5.7 Weighted Average Rate Weighted average rate represents the average rate of transactions weighted by transaction value. 5.8 Annualised Forward Premia Annualised forward premia measure the difference between forward and spot exchange rates expressed on an annualised basis. Annualised Forward Premia(1-month)(%)=(Forward Premium/RBI Reference Rate)×100×12 Annualised Forward Premia (3-month)(%)=(Forward Premium/RBI Reference Rate)×100×4 Annualised Forward Premia (6-month)(%)=(Forward Premium / RBI Reference Rate)×100×2 Note: The reference rate of the last working day of the month is used for computation. 6. Government Finance Concepts Government finance concepts relate to the receipts, expenditure, deficits and borrowing of the Central and State Governments. 6.1 Deficit Indicators -
Revenue Deficit: Excess of revenue expenditure over revenue receipts -
Fiscal Deficit: Excess of total expenditure over total receipts (i.e., revenue receipts and non-debt capital receipts), excluding borrowings -
Primary Deficit: Fiscal deficit minus interest payments 6.2 Expenditure Classification -
Developmental Expenditure: Expenditure on economic and social sectors such as infrastructure, health and education -
Non-developmental Expenditure: Expenditure on interest payments, defence, administrative services and other committed liabilities 6.3 Receipts -
Revenue Receipts: Tax and non-tax receipts that do not create liabilities -
Capital Receipts: Receipts that create liabilities or reduce assets, including borrowings and disinvestment 6.4 Borrowing Concepts -
Market Borrowings: Funds raised through issuance of government securities -
Gross Borrowings: Total funds raised by the government through issuance of securities during a period. -
Net Borrowings: Gross borrowings minus repayments -
Financing of the fiscal deficit includes market borrowings, treasury bills, loans from financial institutions, and investments by insurance and pension funds. 6.5 State Government Finance -
Ways and Means Advances (WMA): Short-term advances provided by RBI to meet temporary mismatches -
Overdraft (OD): Borrowing beyond WMA limits, subject to regulatory conditions -
Special Drawing Facility (SDF): Facility available against collateral such as government securities and reserve funds 6.6 Reserve Funds 6.7 Other Concepts 7. Payments and Settlements Systems Payment and settlement systems facilitate the transfer of funds between entities and form a key component of financial market infrastructure. These systems are broadly classified into (i) payment system indicators, (ii) payment modes and channels, and (iii) payment system infrastructure. 7.1 Payment System Indicators Payment system indicators capture transactions processed through settlement systems and payment systems, measured in terms of volume and value. 7.1.1 Settlement Systems (Financial Market Infrastructures – FMIs) Settlement systems relate to financial market transactions and are primarily operated through centralised clearing infrastructure. -
Government Securities Clearing: Settlement of outright, repo and tri-party repo transactions in government securities -
Forex Clearing: Settlement of foreign exchange transactions -
Rupee Derivatives: Settlement of interest rate and other rupee-denominated derivative transactions 7.1.2 Payment Systems Payment systems include both large-value systems and retail payment systems. (a) Large-value Payment System (b) Retail Payment Systems Credit Transfers: -
NEFT: Deferred net settlement system for retail payments -
IMPS: Real-time interbank electronic fund transfer system -
UPI: Instant real-time payment system using mobile platforms -
AePS / APBS: Aadhaar-enabled payment systems for fund transfers and benefit payments Debit Transfers and Direct Debits: -
NACH (Debit): Electronic system for bulk and recurring debit transactions -
BHIM Aadhaar Pay: Aadhaar-based merchant payment system -
NETC: Electronic toll collection linked to bank accounts Card Payments: Prepaid Payment Instruments (PPIs): Paper-based Instruments: 7.2 Payment Modes and Channels Payment modes and channels refer to the platforms through which transactions are initiated and executed. 7.2.1 Digital Channels • Mobile Payments (App-based): Transactions carried out through mobile applications, including UPI and bank apps Classified into: • Internet Banking: Transactions executed through net banking platforms Classified into: 7.2.2 Cash Access and Withdrawal Channels These relate to physical or assisted access points and are classified by instrument type -
ATMs: Cash withdrawals using Credit cards, Debit cards and Prepaid cards -
PoS Terminals: Cash withdrawal using debit cards and prepaid cards -
Micro-ATMs (AePS): Aadhaar-enabled cash withdrawal and basic banking services 7.3 Payment System Infrastructure Payment system infrastructure represents the physical and digital infrastructure and acceptance infrastructure supporting payment systems. This includes: • Cards: • Prepaid Payment Instruments (PPIs): • ATMs: -
Bank-owned ATMs -
White Label ATMs (WLAs) • Micro-ATMs • Point of Sale (PoS) Terminals • QR Code Infrastructure: 8. Price and Production Indices Inflation measures track changes in the general price level over time and are key indicators of price stability in the economy. 8.1 Consumer Price Index (CPI) Consumer Price Index (CPI) measures changes in retail prices of a representative basket of goods and services consumed by households. It reflects the cost of living and is used for monetary policy assessment. CPI (Combined) is compiled and released by the National Statistical Office (NSO), MoSPI. Coverage -
Rural, Urban and Combined indices -
Multiple consumption categories such as food, housing, transport and services Measurement CPI inflation is generally measured on a year-on-year (Y-o-Y) basis. 8.2 Wholesale Price Index (WPI) Wholesale Price Index (WPI) measures changes in prices of goods at the wholesale level before reaching the retail market. It reflects price movements in production and supply chains. Components WPI is compiled and released by the Office of the Economic Adviser, DPIIT, Ministry of Commerce and Industry. 8.3 Consumer Price Index for Industrial Workers (CPI-IW) CPI-IW measures changes in prices of a basket of goods and services consumed by industrial workers and is compiled by the Labour Bureau, Government of India. Other consumer price indices include the CPI for Agricultural Labourers (CPI-AL) and the CPI for Rural Labourers (CPI-RL), compiled by the Labour Bureau, each with a separate base year. 8.4. Index of Industrial Production (IIP) The Index of Industrial Production (IIP) measures changes in the volume of industrial output over time relative to a base year, covering mining, manufacturing and electricity sectors. 9. External Sector Concepts 9.1 Balance of Payments (BoP) Balance of Payments is a systematic record of economic transactions between residents and non-residents, comprising: Current Account, Capital Account, Financial Account as per BPM6. 9.2 Foreign Exchange Reserves Foreign exchange reserves are held and managed by the Reserve Bank of India. Foreign exchange reserves comprise Foreign Currency Assets, Gold, Special Drawing Rights (SDR), and the Reserve Tranche Position in the IMF. Changes in foreign exchange reserves reflect not only transactions but also valuation effects due to exchange rate movements of non-US currencies. 9.3 Foreign Direct Investment (FDI) FDI refers to investment reflecting a lasting interest and control in an enterprise. 9.4 Foreign Portfolio Investment (FPI) FPI refers to Investment in financial securities without management control. 9.5 Non-Resident Deposits Non-resident deposits refer to deposits held in India by non-residents with banks, denominated in domestic or foreign currency. Non-resident deposits include FCNR(B), NRE and NRO deposit schemes. 9.6 Debit–Credit Convention in Balance of Payments In the BoP, an increase in assets or a decrease in liabilities is recorded as a debit. An increase in liabilities or a decrease in assets is recorded as a credit. 9.7 Errors and Omissions Errors and omissions represent the statistical balancing item in the balance of payments. Trade and Exchange Rate Concepts 9.8 Exchange Rate (INR per Foreign Currency) The exchange rate represents the value of the Indian Rupee in terms of a foreign currency, expressed as units of Rupees per unit of foreign currency. In addition to market-determined exchange rates, the Reserve Bank publishes reference rates for select major currencies. Nominal and Real Effective Exchange Rate (NEER/REER) indices measure the value of the domestic currency against a basket of currencies, with REER adjusted for inflation differentials. 9.9 RBI Reference Rate It represents the daily indicative exchange rate published by the Reserve Bank for major foreign currencies such as USD and Euro. 9.10 Forward Premia Forward Premia represent the difference between forward and spot exchange rates, expressed as an annualised percentage of the spot rate. 9.11 Imports Imports refer to the value of goods and services purchased by residents from non-residents during a specified period. 9.12 Exports Exports refer to the value of goods and services supplied by residents to non-residents during a specified period. 9.13 Trade Balance Trade Balance represents the difference between exports and imports of goods and services. Trade data are often classified into oil and non-oil components for analytical purposes. RBI Foreign Exchange Operations 9.14 Gross Purchase / Gross Sale: 9.15 Net Purchase / Sale of Foreign Currency Net Purchase/Sale of Foreign Currency represents the net amount of foreign exchange bought or sold by the Reserve Bank in the foreign exchange market during a specified period. ₹ equivalent at contract rate represents the domestic currency value of foreign exchange transactions converted at the agreed transaction exchange rate. Cumulative Purchase/Sale: Cumulative purchase/sale (over end-March) represents the aggregate net foreign exchange operations of the Reserve Bank from the beginning of the financial year up to the reporting period. 9.16 Outstanding Net Forward Sales / Purchase Outstanding Net Forward Sales/Purchase represent the net forward foreign exchange commitments of the Reserve Bank at the end of the period. Derivatives and Forward Market Concepts 9.17 Currency Futures (segment) Currency Futures represent exchange-traded derivative contracts to buy or sell foreign currency at a future date at a predetermined price. 9.18 Forward Contracts Forward contracts are agreements to buy or sell foreign currency at a specified future date and are classified by residual maturity and position (long or short). Long / Short Position: 9.19 Residual maturity Residual maturity refers to the remaining time to maturity of a forward contract from the reporting date. Maturity Classification Forward contracts are classified into maturity buckets (e.g., up to 1 month, 1–3 months, 3–12 months, and above 1 year) based on residual maturity for analytical and reporting purposes. External Position Indicators 9.20 Export Credit Refinance (ECR) Export Credit Refinance (ECR) was a facility provided by the Reserve Bank to banks to refinance export credit extended to exporters (now phased out and merged with system liquidity). 9.21 Gross Foreign Assets Gross Foreign Assets represent total foreign assets before adjusting for foreign liabilities. 9.22 International Investment Position (IIP) IIP refers to the stock of external financial assets and liabilities of a country at a point in time. Net IIP represents the difference between external assets and liabilities. 9.23 Residence Principle External sector statistics follow the residence concept; whereby institutional units are classified based on their centre of predominant economic interest. 9.24 BPM6 BPM6 refers to the sixth edition of the IMF Balance of Payments and International Investment Position Manual. | TABLE 1: SELECT ECONOMIC INDICATORS | | Item | Description | | Thematic Category | Select Economic Indicators | | Reference Period | Mixed frequency indicators: Daily / Weekly / Fortnightly / Monthly / Quarterly / Financial Year aggregates, as applicable. | | Unit | Mixed units (₹, US$, index numbers, percentages and ratios), depending on the indicator | | Source Departments | DSIM, IDMD, DEPR, FMOD | | Primary Data Source | RBI, MoSPI, FBIL, CGA, DGCI&S | | Revision Policy | Latest month/quarter provisional; revised as per source | | DBIE Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Reserve Bank of India | | Related Tables | WSS 05 | 2. Coverage This table presents summary growth rates and key ratios relating to (a) Real Sector, (b) Industrial Production (IIP), (c) Money & Banking, (d) Interest Rates, (e) External Sector, and (f) Inflation. Data are presented for the latest period, along with the corresponding previous-year period for comparison. 3. Data Presentation Features -
The table presents key macroeconomic indicators of mixed frequency (daily, weekly, fortnightly, monthly, and quarterly) harmonised for comparative presentation. -
Growth rates are generally presented on a Y-o-Y basis. -
Quarterly indicators compare with the same quarter of the previous year. -
Monthly indicators compare with the same month of the previous year. -
Financial year averages are shown where applicable. -
Ratios and yields are expressed in percentage terms. -
Level indicators are presented in absolute terms (₹, US$, index values or ratios, as applicable) 4. Notes -
This table provides a consolidated macroeconomic overview and serves as a summary reference to detailed tables in the Bulletin. -
Data are compiled from respective source tables generated through CIMS. -
Definitions and detailed methodologies are available in the respective sectoral tables. -
Symbols such as *, # and other markers denote explanatory notes relating to definitional changes, reporting adjustments, benchmark revisions or regulatory updates applicable to specific series. -
Where applicable, data reflect the impact of structural changes such as regulatory amendments, reporting revisions, or institutional restructuring. -
Annual data for selected indicators represent averages of monthly observations. -
With effect from December 2025, reporting fortnight refers to 15th and month-end positions. | TABLE 2: RBI – LIABILITIES AND ASSETS | | Item | Description | | Thematic Category | Reserve Bank of India | | Reference Period | Weekly observations (position as on the last Friday/Friday) | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI (Weekly Statement of Affairs) | | Revision Policy | No revision | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Reserve Bank of India
• DBIE > Statistics > Financial Sector > Monetary Statistics | | Related Tables | WSS 01, HBS 42 | 2. Coverage This table presents the Reserve Bank of India's balance sheet, structured into two statutory components, the Issue Department and the Banking Department, in accordance with the Reserve Bank of India Act, 1934. For both the Issue Department and the Banking Department, total liabilities are equal to total assets, reflecting the balance sheet identity. Banking Department liabilities comprise deposits of the Central Government, State Governments, banks and other entities, along with other liabilities and provisions. 3. Data Presentation Features -
All values are presented in ₹ crore. -
Based on Weekly Statement of Affairs published under Section 53(1) of the Reserve Bank of India Act, 1934. 4. Notes -
Movements reflect changes due to currency issuance, government transactions, liquidity operations and valuation adjustments. -
Detailed sub-classifications of assets and liabilities are presented within each Department consistent with the Weekly Statement of Affairs format, including foreign currency assets, gold, investments in government securities, loans and advances, and other assets. -
The format follows amendments notified in July 2015 pursuant to recommendations of the Technical Committee on the Form of Presentation of RBI Balance Sheet. -
Issue Department asset backing requirements are governed under Sections 33 and 34 of the RBI Act, 1934. | TABLE 3: LIQUIDITY OPERATIONS BY RBI | | Item | Description | | Thematic Category | Reserve Bank of India | | Reference Period | Daily (for the month) | | Unit | ₹ crore | | Source Department | FMOD | | Primary Data Source | RBI | | Revision Policy | No revision | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Reserve Bank of India
• DBIE > Statistics > Financial Market > Money Market | | Related Tables | WSS 01 | 2. Coverage This table presents daily liquidity injection and absorption operations undertaken by the Reserve Bank of India through the Liquidity Adjustment Facility (LAF), Standing Liquidity Facilities (MSF and SDF), liquidity facilities for Primary Dealers, and Open Market Operations (OMOs), including outright sale and purchase transactions. It reflects RBI’s liquidity management operations aimed at aligning money market rates with the policy rate and managing frictional and durable liquidity conditions in the system. 3. Data Presentation Features -
All values are presented in ₹ crore. -
Data are presented on a date-wise basis for each reporting day of the reference month. -
Covers Repo, Reverse Repo, Variable Rate Repo and Variable Rate Reverse Repo Operations, MSF, SDF, OMO transactions. -
Net liquidity injection (+) / absorption (–) represents the net effect of all liquidity-providing and liquidity-absorbing operations during the day, as per the summation formula indicated in the table. -
Figures represent transaction amounts conducted on each reporting day and do not denote outstanding balances. 4. Notes -
Liquidity operations are conducted under the prevailing liquidity management framework of the Reserve Bank of India. -
OMOs include outright purchase and sale of government securities undertaken for durable liquidity management. -
A detailed operational framework is available in RBI monetary policy documents. -
Liquidity operations reflect the operating framework of monetary policy and the stance of systemic liquidity conditions. | TABLE 4: SALE / PURCHASE OF U.S. DOLLAR BY THE RBI | | Item | Description | | Thematic Category | Reserve Bank of India | | Reference Period | Monthly | | Unit | US$ million (transactions); ₹ crore (select items at contract rate) | | Source Department | DEIO | | Primary Data Source | RBI | | Revision Policy | No revision | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Reserve Bank of India
• DBIE > Statistics > Financial Market > Forex Market | | Related Tables | HBS 210 | 2. Coverage This table presents the Reserve Bank of India’s monthly operations in the foreign exchange market classified into: (i) operations in the onshore/offshore over-the-counter (OTC) segment, and (ii) operations in the currency futures segment. It includes spot and forward transactions, net purchase/sale positions, cumulative figures (over end-March), and outstanding net forward or futures positions at the month-end. The table reflects RBI’s foreign exchange market operations undertaken to manage exchange rate volatility, ensure orderly market conditions, and manage liquidity. 3. Data Presentation Features -
Values are presented in US$ million; select items are additionally presented in ₹ crore at contract rate. -
Net purchase/sale represents gross purchases minus gross sales of foreign currency during the period. -
Data are presented separately for OTC and currency futures segments. -
Includes cumulative figures (over end-March) where applicable. -
Outstanding net forward or futures sales (–) / purchase (+) are shown at month-end. -
Figures represent transaction (flow) amounts during the month and outstanding (stock) positions at month-end, as applicable. 4. Notes -
Transactions reflect RBI’s foreign exchange market operations conducted through Authorised Dealers and recognised trading platforms. OTC operations include spot and forward transactions undertaken in onshore and offshore markets. -
Currency futures operations reflect positions in exchange-traded derivative segments. -
Net transaction figures do not directly correspond to changes in foreign exchange reserves due to valuation effects, income accruals and other balance sheet adjustments. -
Detailed maturity-wise position of outstanding forward contracts is available in the Reserves Template published by the Reserve Bank of India. -
Detailed foreign exchange reserves position is available in Table 33. | TABLE 4(a): MATURITY BREAKDOWN (BY RESIDUAL MATURITY) OF OUTSTANDING FORWARDS OF RBI (US$ MILLION) | | Item | Description | | Thematic Category | Reserve Bank of India | | Reference Period | As on month-end | | Unit | US$ million | | Source Department | DEIO | | Primary Data Source | RBI | | Revision Policy | No revision | | DBIE Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Reserve Bank of India | | Related Tables | HBS 210 | 2. Coverage This table presents the residual maturity distribution of the Reserve Bank of India’s outstanding forward foreign exchange commitments as at the month-end. It classifies forward positions into residual-maturity buckets and reports Positions are reported separately as Long (+) (forward purchase), Short (–) (forward sale), and Net (Long minus Short). 3. Data Presentation Features • Position as at month-end. • Classified by residual maturity buckets, namely: • Positions are reported separately as Long (+), Short (–), and Net (Long minus Short). • A total across all maturity buckets is provided. • Values are presented in US$ million. • Reflects outstanding forward commitments at the reporting date. 4. Notes -
Data relate to outstanding forward purchase and sale contracts entered into by the RBI. -
Maturity classification is based on the remaining tenor at the reporting date. -
Net positions represent the difference between Long and Short forward positions. -
This table complements Table 4 (Sale/Purchase of U.S. Dollar by the RBI) and the foreign exchange reserves position (Table 33), and forms part of RBI’s forward commitments under the reserves management framework. | TABLE 5: RBI’S STANDING FACILITIES | | Item | Description | | Thematic Category | Reserve Bank of India | | Reference Period | Position as on the last reporting fortnight of the month (mid-month or month-end, as applicable). | | Unit | ₹ crore | | Source Department | DEIO | | Primary Data Source | RBI | | Revision Policy | No revision | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Reserve Bank of India
• DBIE > Statistics > Financial Sector > Monetary Statistics | | Related Tables | — | 2. Coverage This table presents the position of liquidity absorption and injection under the Reserve Bank of India’s standing facilities as on the last reporting fortnight of the month. It includes Standing Deposit Facility (SDF), Marginal Standing Facility (MSF), Liquidity Facility for Primary Dealers and other standing liquidity facilities of the Reserve Bank of India. The table reports both sanctioned limits and outstanding utilisation, where applicable. 3. Data Presentation Features -
Position as on last reporting fortnight of the month. -
All values are presented in ₹ crore. -
Facilities are presented with separate disclosures of Limit and Outstanding amounts, where applicable. -
Total outstanding represents the aggregate utilisation of standing liquidity facilities, while limits indicate the sanctioned or eligible access under each facility. -
Figures represent outstanding utilisation at the reporting date. 4. Notes -
Standing facilities form part of the Reserve Bank of India’s liquidity management framework and define the corridor for short-term interest rates, with SDF as the floor and MSF as the ceiling. -
These facilities operate alongside Liquidity Adjustment Facility (Table 3). -
Terms, limits and eligibility conditions are governed by RBI operational guidelines and policy circulars. -
The special refinance facility earlier extended to entities such as EXIM Bank was discontinued from March 31, 2013. | TABLE 6: MONEY STOCK MEASURES | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | Outstanding positions as on March 31 and reporting fortnights of the month. | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI, Department of Posts | | Revision Policy | Data are subject to revisions based on updated reporting by banks and postal authorities | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking
• DBIE > Statistics > Financial Sector > Monetary Statistics | | Related Tables | WSS 06, HBS 39, HBS 164 | 2. Coverage This table presents monetary aggregates representing money supply in the economy, defined as liabilities of the banking system to the public. It includes Currency with the Public, Deposit Money of the Public, Other Deposits with RBI, Post Office Deposits, and Time Deposits with Banks. The aggregates presented are (a) M1 (Narrow Money); (b) M2; (c) M3 (Broad Money) and M4. The table provides component-wise break-up of each aggregate. 3. Data Presentation Features -
Data are presented as outstanding stock positions. -
Figures relate to reporting fortnights and March-end position. -
Monetary aggregates are derived using defined accounting relationships. 4. Notes -
M1 = Currency with the Public + Deposit Money of the Public + Other Deposits with RBI -
M2 = M1 + Post Office Savings Bank Deposits -
M3 = M1 + Time Deposits with Banks -
M4 = M3 + Total Post Office Deposits -
Monetary aggregates are compiled based on the consolidated balance sheet of the Reserve Bank of India and the banking system. -
Definitions follow RBI’s monetary compilation framework. -
Detailed component breakdown is available in related tables and DBIE datasets. -
Notes in circulation include CBDC-Retail (R) and CBDC-Wholesale (W). -
Cash on hand with banks includes CBDC-Wholesale balances. | TABLE 7: SOURCES OF MONEY STOCK (M3) | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | Outstanding as on March 31 and Reporting Fortnights of the Month | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI | | Revision Policy | Data are subject to revisions based on the updated reporting and reconciliation adjustments. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking
• DBIE > Statistics > Financial Sector > Monetary Statistics | | Related Tables | WSS 06, HBS 40, HBS 165 | 2. Coverage This table presents the sources (counterparts) of Broad Money (M3) based on the consolidated balance sheet of the banking sector (RBI and commercial banks). It includes (a) Net Bank Credit to Government, (b) Bank Credit to Commercial Sector, (c) Net Foreign Exchange Assets of the Banking Sector, (d) Government’s Currency Liabilities to the Public and adjusted for (e) Banking Sector’s Net Non-Monetary Liabilities. These components represent the accounting counterparts of money supply derived from the consolidated balance sheet of the banking system. 3. Data Presentation Features -
Data are presented as outstanding stock positions. -
Figures relate to reporting fortnights and March-end position. -
Based on consolidated balance sheet approach (RBI + Banking sector). -
M3 is derived using defined accounting identity. 4. Notes -
Compilation follows RBI’s monetary statistics framework. -
Effective July 2014 treatment of repo operations is reflected in credit components. -
Complementary to Table 6 (Money Stock Measures). -
Includes foreign currency denominated bonds issued by IIFC (UK). -
Net Non-Monetary Liabilities represent capital, reserves and other liabilities of the banking system not included in monetary aggregates. | TABLE 8: MONETARY SURVEY | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | Outstanding as on March 31 and reporting fortnights of the month | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI | | Revision Policy | Data are subject to revision based on updated reporting and reconciliation adjustments. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking
• DBIE > Statistics > Financial Sector > Monetary Statistics | | Related Tables | HBS 170 | 2. Coverage This table presents the Monetary Survey, which is the consolidated balance sheet of the banking system used to analyse money supply. The Monetary Survey provides the analytical framework linking money supply (M3/NM3) to its components and sources. It provides: -
Monetary Aggregates NM1, NM2, and NM3 -
Components of Money Supply, including currency with the public, deposits of residents and ‘other’ deposits with RBI. -
Sources of Money Supply, including domestic credit, government liabilities, net foreign exchange assets, capital account and other items (net) - represents the balancing item in the monetary survey framework. -
The table integrates RBI and banking-sector balance sheet data. 3. Data Presentation Features -
Figures relate to reporting fortnights and March-end position. -
Based on consolidated balance sheet approach. -
Monetary aggregates are derived using defined accounting identities. 4. Notes -
NM1 = Currency with the Public + Demand Deposits + ‘Other’ Deposits with RBI. -
NM2 = NM1 + Short-term Time Deposits. -
NM3 is derived from its components as well as its sources identity. On the components side, NM3 = NM2 + Long-term Time Deposits + Call/Term Funding from Financial Institutions. On the sources side, NM3 = Domestic Credit + Government’s Currency Liabilities to the Public + Net Foreign Exchange Assets − Capital Account − Other Items (Net). NM2 and NM3 aggregates exclude FCNR(B) deposits. -
Compilation follows the methodology of the Working Group on Money Supply (WGMS). -
Classification is based on the residency principle. Complementary to Tables 6 and 7. | TABLE 9: LIQUIDITY AGGREGATES | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | As on Reporting Fortnights of the Month | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI | | Revision Policy | Data are subject to revision based on updated reporting and reconciliation adjustments. | | DBIE Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking | | Related Tables | HBS 172 | 2. Coverage This table presents liquidity aggregates (L1, L2 and L3), which extend beyond conventional money supply measures (M3/NM3) by incorporating liabilities of financial institutions and non-banking financial entities. It includes: -
L1 = NM3 + Postal savings deposits (including savings, recurring and time deposits with the post office system) -
L2 = L1 + Liabilities of Financial Institutions -
L3 = L2 + Public Deposits with Non-Banking Financial Companies (NBFCs) 3. Data Presentation Features -
Data are presented as outstanding stock positions. -
L1 and L2 are compiled on a monthly basis. -
L3 is compiled on a quarterly basis. -
Based on the aggregation of monetary and quasi-monetary liabilities. 4. Notes -
Liquidity aggregates provide a broader measure of financial liquidity in the economy. -
Definitions follow RBI’s monetary compilation framework. -
NM3 refers to residency-based broad money as defined under the WGMS framework (comprising currency with the public, demand and time deposits of residents, and other deposits with RBI, excluding non-resident deposits). -
NM3 differs from M3 by excluding non-resident deposits and certain non-resident liabilities. -
Figures may not add up due to rounding. -
Financial institutions include EXIM Bank, SIDBI, NABARD and NHB. -
Where current period data are unavailable, latest available data are carried forward. -
Complementary to Tables 6, 7 and 8. | TABLE 10: RESERVE BANK OF INDIA SURVEY | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | Outstanding as on March 31 and reporting fortnights of the month | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI | | Revision Policy | Data are subject to revision based on updated reporting and reconciliation adjustments. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking
• DBIE > Statistics > Financial Sector > Monetary Statistics | | Related Tables | HBS 169 | 2. Coverage This table presents the balance sheet of the Reserve Bank of India from a monetary survey perspective. It provides: Components of Reserve Money (Currency in Circulation, Bankers’ Deposits with RBI and ‘Other’ Deposits with RBI), Sources of Reserve Money including RBI’s Domestic Credit, Government’s Currency Liabilities to the Public, Net Foreign Exchange Assets, Capital Account and Other Items (Net). 3. Data Presentation Features -
Data are presented as outstanding stock positions. -
Figures relate to reporting fortnights and the March-end position. -
Based on RBI balance sheet data. -
Reserve Money is derived using a defined accounting identity. 4. Notes -
Reserve Money (M0) represents high-powered money. -
Changes reflect RBI’s monetary policy operations and liquidity management actions. -
Complementary to Table 11 (Reserve Money – Components and Sources). | TABLE 11: RESERVE MONEY – COMPONENTS AND SOURCES | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | Outstanding as on March 31 and reporting fortnights of the month | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI | | Revision Policy | Data are subject to revision based on updated reporting and reconciliation adjustments. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking
• DBIE > Statistics > Financial Sector > Monetary Statistics | | Related Tables | HBS 169 | 2. Coverage This table presents the detailed components and sources of Reserve Money (M0). It includes: Components: Currency in Circulation, Bankers’ Deposits with RBI, ‘Other’ Deposits with RBI Sources: On the sources side, reserve money is derived from net Reserve Bank credit to government, Reserve Bank credit to banks and the commercial sector, net foreign exchange assets, and government currency liabilities to the public, adjusted for net non-monetary liabilities. 3. Data Presentation Features -
Data are presented as outstanding stock positions. -
Figures relate to reporting fortnights and March-end position. -
Based on RBI balance sheet framework. -
Reserve Money is derived using defined accounting identity. 4. Notes -
Reserve Money (M0) is also referred to as base money or high-powered money. -
Movements reflect monetary policy operations, government transactions and valuation changes. -
Complementary to Tables 6, 7 and 10. | TABLE 12: COMMERCIAL BANK SURVEY | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | Outstanding position as on the last reporting fortnight of the month. | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI | | Revision Policy | Data are subject to revision based on updated reporting and reconciliation adjustments. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking
• DBIE > Statistics > Financial Sector > Monetary Statistics | | Related Tables | HBS 171 | 2. Coverage This table presents the balance sheet of the commercial banking sector from a monetary survey perspective. It provides: Components: Aggregate Deposits of Residents (Demand and Time Deposits), Call/Term Funding from Financial Institutions. Sources: Domestic Credit (Credit to Government and Credit to Commercial Sector), Net Foreign Currency Assets of Commercial Banks, Net Bank Reserves, Capital Account, Other Items (Net) 3. Data Presentation Features -
Data are presented as outstanding stock positions. -
Figures relate to reporting fortnights. -
Covers scheduled commercial banks and co-operative banks. -
Based on the commercial bank survey framework under the monetary aggregation methodology. 4. Notes -
Compiled in line with the monetary aggregation framework recommended by the Working Group on Money Supply (WGMS). -
Classification follows the residency concept. -
Other Items (Net) represents the balancing item in the survey framework. -
Complementary to Tables 6–11. | TABLE 13: SCHEDULED COMMERCIAL BANKS’ INVESTMENTS | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | Outstanding as on March 31 and reporting fortnights of the month | | Unit | ₹ crore | | Source Department | DSIM | | Primary Data Source | Form A Returns, RBI | | Revision Policy | Data for earlier columns are final; latest columns are provisional and subject to revision. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking
• DBIE > Statistics > Financial Sector > Banking - Assets & Liabilities | | Related Tables | — | 2. Coverage The table provides insight into the composition of banks’ investment portfolios, including statutory (SLR) and non-statutory exposures. It includes -
SLR investments (eligible for statutory liquidity ratio requirements) -
Non-SLR investments (including corporate securities and other financial instruments), -
Commercial Paper, -
Shares (PSUs, Private Corporate Sector, and others), -
Bonds and Debentures (PSUs, Private Corporate Sector and Others), -
Instruments used by Mutual Funds and Financial Institutions. 3. Data Presentation Features -
Data are presented as outstanding stock positions. -
Figures relate to reporting fortnights and annual position. -
Based on statutory Form A returns submitted by banks. -
Classified by instrument type and issuer category. 4. Notes -
SLR securities include Central and State Government securities eligible for statutory liquidity ratio requirements. Non-SLR investments include commercial paper, shares, bonds/debentures and other approved instruments. -
Definition of reporting fortnight revised w.e.f. December 15, 2025, in accordance with the Banking Laws (Amendment) Act, 2025. -
Data support analysis of banks’ investment portfolio allocation and exposure to capital market instruments. -
Data for columns (1)–(3) are final, while data for columns (4)–(5) are provisional. | TABLE 14: BUSINESS IN INDIA – ALL SCHEDULED BANKS AND ALL SCHEDULED COMMERCIAL BANKS | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | As on the reporting fortnights of the month (15th and month-end); March data refer to year-end position. | | Unit | ₹ crore | | Source Department | DSIM | | Primary Data Source | Form A Returns, RBI | | Revision Policy | Latest columns are provisional and subject to revision. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking
• DBIE > Statistics > Financial Sector > Banking - Assets & Liabilities | | Related Tables | HBS 44, HBS 166, HBS 211 | 2. Coverage This table presents aggregate balance sheet indicators of (a) All Scheduled Banks and (b) All Scheduled Commercial Banks. It provides consolidated data on (a) Number of reporting banks, (b) Liabilities to the banking system, (c) Liabilities to others (including Demand and Time deposits), (d) Borrowings from Reserve Bank, (e) Cash in Hand and Balances with RBI, (f) Assets with the Banking System, (g) Investment (government securities and other approved securities) and (h) Bank credit (including food credit and non-food credit components). 3. Data Presentation Features -
Data are presented as outstanding stock positions. -
Based on statutory returns under Section 42(2) of the RBI Act, 1934. -
Separate presentation for All Scheduled Banks and All Scheduled Commercial Banks. 4. Notes -
Data are compiled from Form A returns submitted by scheduled banks. -
Latest columns are provisional. -
Data include the impact of merger of a non-bank with a bank w.e.f. July 1, 2023. -
Definition of reporting fortnight revised w.e.f. December 15, 2025, in accordance with the Banking Laws (Amendment) Act, 2025. -
The table facilitates analysis of banking sector balance sheet expansion and credit trends. | TABLE 15: DEPLOYMENT OF GROSS BANK CREDIT BY MAJOR SECTORS | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | As on March 31 and month-end positions during the year. | | Unit | ₹ crore | | Source Department | MPD | | Primary Data Source | RBI | | Revision Policy | Data are provisional and subject to revision. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking
• DBIE > Statistics > Financial Sector > Banking - Sectoral Statistics | | Related Tables | HBS 45, HBS 167 | 2. Coverage This table presents sectoral distribution of gross bank credit by Scheduled Commercial Banks. It covers: -
Bank credit is classified into food credit (credit for procurement of food grains by public agencies) and non-food credit (credit to all other sectors). -
Sectoral deployment of Non-food Credit to Agriculture, Industry, Services and Personal Loans. -
Priority Sector credit (Memo items). 3. Data Presentation Features -
Position as on the last day of the month. -
Based on consolidated banking data. -
Figures represent outstanding credit. -
Growth rates presented on a Y-o-Y basis. 4. Notes -
Data provide insights into sectoral allocation of bank credit. -
Classification broadly aligned with Basic Statistical Returns (BSR). -
Bank credit, food credit and non-food credit are based on Section 42 returns covering all SCBs; sectoral non-food credit is based on sector-wise and industry-wise bank credit (SIBC) returns covering select banks. -
With effect from December 31, 2025, the definition of the last reporting fortnight has been changed to the last day of the month under the Banking Laws (Amendment) Act 2025. Accordingly, the Y-o-Y growth rates from December 2025 onwards are based on end-of-month data for the current year and data for the last reporting fortnight (as per the old definition) for the corresponding month of the previous year. | TABLE 16: INDUSTRY-WISE DEPLOYMENT OF GROSS BANK CREDIT | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | As on March 31 and month-end positions during the year. | | Unit | ₹ crore | | Source Department | MPD | | Primary Data Source | RBI | | Revision Policy | Data are provisional and subject to revision. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking
• DBIE > Statistics > Financial Sector > Banking - Sectoral Statistics | | Related Tables | HBS 46, HBS 168 | 2. Coverage This table provides a detailed industry-wise classification of industrial credit presented under ‘Industry’ in Table 15. It provides credit data for major industrial sub-sectors, including (1) Mining and Quarrying, (2) Food Processing, (3) Beverage & Tobacco, (4) Textiles, (5) Leather & Leather Products, (6) Wood & Wood Products, (7) Paper & Paper Products, (8) Petroleum, Coal Products & Nuclear Fuels, (9) Chemical & Chemical Products, (10) Rubber, Plastic and their Products, (11) Glass & Glassware, (12) Cement & Cement Products, (13) Basic Metal & Metal Products, (14) All Engineering, (15) Vehicle, Vehicle Parts and Transport Equipment, (16) Gems & Jewellery, (17) Construction, (18) Infrastructure and (19) Other Industries. 3. Data Presentation Features -
Figures represent outstanding credit. -
Growth rates presented on Y-o-Y basis and Financial Year so far basis. -
Classification aligned with sectoral credit reporting framework. 4. Notes -
Data are provisional and based on monthly reporting by select Scheduled Commercial Banks. -
Data are based on sector-wise and industry-wise bank credit (SIBC) returns covering select Scheduled Commercial Banks. -
Classification is aligned with the industry classification used in bank credit reporting (BSR framework). - With effect from December 31, 2025, definition of last reporting fortnight has been changed to the last day of the month under the Banking Laws (Amendment) Act 2025. Accordingly, the Y-o-Y growth rates from December 2025 onwards are based on end-of-month data for the current year and data for the last reporting fortnight (as per old definition) for the corresponding month of the previous year.
| TABLE 17: STATE CO-OPERATIVE BANKS MAINTAINING ACCOUNTS WITH THE RESERVE BANK OF INDIA | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | As on reporting fortnights of the month. | | Unit | ₹ crore | | Source Department | DoR | | Primary Data Source | Form B Returns, RBI | | Revision Policy | Data are subject to revision based on updated reporting. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking
• DBIE > Statistics > Financial Sector > Banking - Assets & Liabilities | | Related Tables | HBS 57 | 2. Coverage This table presents the financial position of State Co-operative Banks maintaining accounts with the Reserve Bank of India. It provides data on: -
Number of Reporting Banks -
Aggregate Deposits -
Demand and Time Liabilities (including inter-bank deposits and borrowings) -
Borrowings from Reserve Bank and notified banks/Government -
Cash in Hand and Balances with RBI -
Balances with Other Banks in Current Account -
Investments in Government Securities -
Money at Call and Short Notice -
Bank Credit (Loans, Cash-credits, Overdrafts and Bills) 3. Data Presentation Features -
Data are presented as outstanding stock positions as on the reporting day. -
Covers both Scheduled and Non-Scheduled State Co-operative Banks maintaining accounts with RBI. -
Based on statutory Form B returns submitted to RBI. 4. Notes -
Data are compiled from returns submitted under Section 42 of the RBI Act, 1934 and related reporting requirements. -
The table facilitates analysis of the cooperative banking segment. -
Complements overall banking sector analysis in Tables 12–14. -
Reserve funds maintained by co-operative societies with State Co-operative Banks are excluded from deposits. Borrowings exclude borrowings from RBI, SBI, IDBI, NABARD and notified banks. | TABLE 18(a): FLOW OF FINANCIAL RESOURCES TO COMMERCIAL SECTOR IN INDIA | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | Cumulative during the financial year (April–March) and up to the latest available reporting month | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI, SEBI | | Revision Policy | Revised on a monthly basis, the latest period data are provisional | | DBIE Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking | | Related Tables | Table 18(b) | 2. Coverage This table presents the cumulative flow of financial resources to the commercial sector during the financial year. The flows are classified into: (i) Bank Sources: Non-food bank credit extended by scheduled commercial banks; (ii) Non-Bank Sources, further classified into: a) Domestic Sources - Equity issuances by non-financial entities, Corporate bond issuances, Hybrid instruments (REITs/InvITs), Commercial paper issuances, Credit by Housing Finance Companies (HFCs) (net of bank borrowings), Credit by Non-Banking Financial Companies (NBFCs) (net of bank borrowings), Credit by RBI-regulated All-India Financial Institutions (AIFIs), b) Foreign Sources - External Commercial Borrowings (ECBs), American/Global Depository Receipts (ADR/GDR), Short-term credit from abroad, Foreign Direct Investment (FDI) to India. The table also presents the total flow of financial resources, obtained as the sum of bank and non-bank sources. 3. Data Presentation Features -
Figures represent financial flows (transactions during the period) and not outstanding stock positions. -
The table provides comparable data across financial years and the current year up to the reporting period. -
Total flow of resources is presented as the sum of bank and non-bank sources. 4. Notes -
Data are presented on a net basis, except for equity and hybrid instruments, which are reported on a gross basis. -
Non-bank credit components (e.g., NBFCs, HFCs) are shown net of their borrowings from the banking system to avoid double counting. -
Non-food bank credit pertains to scheduled commercial banks and excludes credit extended by co-operative banks. -
Complementary to Table 18(b) (Outstanding Credit). | TABLE 18(b): OUTSTANDING CREDIT TO COMMERCIAL SECTOR IN INDIA | | Item | Description | | Thematic Category | Money and Banking | | Reference Period | Outstanding position as at end-March and as on the latest available reporting month | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI, SEBI | | Revision Policy | Revised on a monthly basis | | DBIE Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Money and Banking | | Related Tables | Table 18(a) | 2. Coverage This table presents the outstanding stock of credit to the commercial sector at specified reference points. The outstanding credit is classified into: (i) Bank Sources - Non-food bank credit extended by scheduled commercial banks; (ii) Non-Bank Sources, further classified into: (a) Domestic Sources - corporate bond issuances by non-financial entities, Equity issuances by non-financial entities, Credit by Housing Finance Companies (HFCs) (net of bank borrowings), Credit by Non-Banking Financial Companies (NBFCs) (net of bank borrowings), Credit by RBI-regulated All-India Financial Institutions (AIFIs), b) Foreign Sources - External Commercial Borrowings (ECBs), Short-term credit from abroad, Other external sources of financing. The table also presents the total outstanding credit to the commercial sector, obtained as the sum of bank and non-bank sources. 3. Data Presentation Features -
Data are presented as outstanding stock positions at: End-March (financial year-end), and the latest available reporting month. Figures represent credit outstanding at a point in time. -
The table includes both Level data (₹ crore), and Year-on-year percentage variation, reflecting growth in outstanding credit. -
Non-bank sources are presented with a detailed disaggregation into domestic and foreign components. -
Total outstanding credit is presented as the sum of bank and non-bank sources. 4. Notes -
Data on non-bank credit components (e.g., NBFCs, HFCs) are adjusted, where applicable, to avoid double counting with bank credit. In the case of corporate bonds, data are based on SEBI reporting, and adjustments may be made to ensure consistency across periods. - Changes in outstanding credit may not correspond directly with flows presented in Table 18(a) due to (a) valuation effects, particularly in the case of foreign sources, (b) institutional changes, such as mergers or restructuring (e.g., conversion or merger of financial entities), (c) methodological adjustments and data revisions.
| TABLE 19: CONSUMER PRICE INDEX (BASE: 2024 = 100) | | Item | Description | | Thematic Category | Prices and Production | | Reference Period | Monthly | | Unit | Index (Base: 2024 = 100) | | Source Department | DSIM | | Primary Data Source | NSO, MoSPI | | Revision Policy | Revised as per NSO/MoSPI release calendar, the latest period data are provisional | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Prices and Production
• DBIE > Statistics > Real Sector > Prices & Wages | | Related Tables | HBS 37, HBS 162 | 2. Coverage This table presents Consumer Price Index (CPI) data for Rural, Urban, and Combined (Rural + Urban). CPI is further disaggregated into divisions (1) Food and beverages, (2) Paan, tobacco and intoxicants, (3) Clothing and footwear, (4) Housing, water, electricity, gas and other fuels, (5) Furnishings, household equipment and maintenance, (6) Health, (7) Transport, (8) Information and communication, (9) Recreation and culture, (10) Education, (11) Restaurants and accommodation services, (12) Personal care, social protection and miscellaneous goods and services. 3. Data Presentation Features -
The table includes monthly indices for specified reference months. -
Covers major groups and sub-groups. -
Latest month marked as provisional (P), as per official release. 4. Notes | TABLE 20: OTHER CONSUMER PRICE INDICES | | Item | Description | | Thematic Category | Prices and Production | | Reference Period | Monthly | | Unit | Index (Base Year as specified for each series) | | Source Department | DSIM | | Primary Data Source | Labour Bureau, Ministry of Labour and Employment, Government of India | | Revision Policy | As per source agency release | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Prices and Production
• DBIE > Statistics > Real Sector > Prices & Wages | | Related Tables | HBS 37, 162 | 2. Coverage This table presents selected consumer price indices compiled by the Labour Bureau, including: -
Consumer Price Index for Industrial Workers (CPI-IW) -
Consumer Price Index for Agricultural Labourers (CPI-AL) -
Consumer Price Index for Rural Labourers (CPI-RL) It provides base year information, linking factors (where applicable) and latest index values. 3. Data Presentation Features 4. Notes -
CPI-IW (Base: 2016=100) is widely used for wage indexation and dearness allowance (DA) adjustments. -
CPI-AL and CPI-RL (Base: 2019=100) reflect rural price movements. -
Complementary to Table 19 (CPI – Combined, Rural, Urban). | TABLE 21: MONTHLY AVERAGE PRICE OF GOLD AND SILVER IN MUMBAI | | Item | Description | | Thematic Category | Prices and Production | | Reference Period | Monthly | | Unit | ₹ (Gold: per 10 grams; Silver: per kilogram) | | Source Department | DSIM | | Primary Data Source | India Bullion & Jewellers Association Ltd., Mumbai | | Revision Policy | Data are based on market quotations and not subject to revision. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Prices and Production
• DBIE > Statistics > Real Sector > Prices & Wages | | Related Tables | HBS 38, HBS 163 | 2. Coverage This table presents monthly average prices in the Mumbai bullion market for: 3. Data Presentation Features 4. Notes | TABLE 22: WHOLESALE PRICE INDEX (WPI) | | Item | Description | | Thematic Category | Prices and Production | | Reference Period | Monthly | | Unit | Index (Base: 2011–12 = 100) | | Source Department | DSIM | | Primary Data Source | Office of the Economic Adviser, Ministry of Commerce and Industry, Government of India | | Revision Policy | Revised as per source agency release | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Prices and Production
• DBIE > Statistics > Real Sector > Prices & Wages | | Related Tables | HBS 36, HBS 161, Table 19 | 2. Coverage This table presents the Wholesale Price Index (WPI), reflecting price movements at the wholesale level. It covers major commodity groups including: -
All Commodities -
Primary Articles -
Fuel & Power -
Manufactured Products - Food Index
These groups are further disaggregated into sub-groups and item-level categories. 3. Data Presentation Features -
Monthly index values (Base: 2011-12 = 100 or latest notified base). -
The latest two months are typically marked as provisional (P). -
Commodity-wise weights and index values presented. 4. Notes -
WPI is compiled by Office of Economic Adviser, Ministry of Commerce and Industry. -
WPI measures price changes at the wholesale and producer levels. Used for analysing producer price trends and input cost pressures. -
Complements Consumer Price Index (Table 19). | TABLE 23: INDEX OF INDUSTRIAL PRODUCTION (BASE: 2011-12 = 100) | | Item | Description | | Thematic Category | Prices and Production | | Reference Period | Monthly | | Unit | Index (Base: 2011–12 = 100) | | Source Department | DEPR | | Primary Data Source | National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) | | Revision Policy | Revised as per NSO release calendar | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Prices and Production
• DBIE > Statistics > Real Sector > Industrial Statistics | | Related Tables | HBS 27, HBS 29, HBS 158, HBS 160 | 2. Coverage This table presents the Index of Industrial Production (IIP), measuring changes in the volume of industrial output. It covers: -
General Index -
Sectoral Classification: Mining, Manufacturing and Electricity -
Use-Based Classification: Primary Goods, Capital Goods, Intermediate Goods, Infrastructure/Construction Goods, Consumer Durables and Consumer Non-Durables. 3. Data Presentation Features -
Monthly index values (Base: 2011–12 = 100). -
Financial year averages presented. -
Sectoral and use-based classifications included. 4. Notes -
Represents physical volume of production. -
Used as a key indicator of industrial activity and economic growth. -
Complements WPI (Table 22) and CPI (Table 19). | TABLE 24: UNION GOVERNMENT ACCOUNTS AT A GLANCE | | Item | Description | | Thematic Category | Government Accounts and Treasury Bills | | Reference Period | Financial Year aggregates and cumulative April–reporting month data | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | Controller General of Accounts (CGA), Ministry of Finance, Government of India and Budget Documents | | Revision Policy | Revised as per Union Budget and CGA releases | | DBIE Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Government Accounts and Treasury Bills | | Related Tables | HBS 89, HBS 90 | 2. Coverage This table presents a summary of the Union Government’s fiscal position. It includes: -
Revenue Receipts (Tax and Non-Tax) -
Non-Debt Capital Receipts -
Total Receipts (excluding borrowings) -
Revenue Expenditure -
Capital Expenditure -
Total Expenditure -
Revenue Deficit -
Fiscal Deficit -
Gross Primary Deficit 3. Data Presentation Features 4. Notes | TABLE 25: TREASURY BILLS – OWNERSHIP PATTERN | | Item | Description | | Thematic Category | Government Accounts and Treasury Bills | | Reference Period | Weekly | | Unit | ₹ crore | | Source Department | IDMD | | Primary Data Source | e-Kuber, RBI | | Revision Policy | Data are based on actual holdings and are not subject to revision. | | DBIE Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Government Accounts and Treasury Bills | | Related Tables | Table 26 | 2. Coverage This table presents the ownership pattern of Treasury Bills. It includes holdings of: o 91-day Treasury Bills o 182-day Treasury Bills o 364-day Treasury Bills o 14-day Intermediate Treasury Bills o Total Treasury Bills (excluding 14-day intermediate bills) Holdings are classified by major investor categories: o Banks o Primary Dealers o State Governments o Others 3. Data Presentation Features 4. Notes -
Treasury Bills are short-term Government of India securities. -
14-day Intermediate Treasury Bills are non-marketable and are used to replenish shortfalls in the daily minimum cash balances of State Governments. -
Useful for analysing short-term government borrowing and investor participation. | TABLE 26: AUCTIONS OF TREASURY BILLS | | Item | Description | | Thematic Category | Government Accounts and Treasury Bills | | Reference Period | Auction-wise data during the financial year | | Unit | ₹ crore | | Source Department | IDMD | | Primary Data Source | e-Kuber, RBI | | Revision Policy | No revision | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Government Accounts and Treasury Bills
• DBIE > Statistics > Financial Market > Government Securities Market | | Related Tables | HBS 217, HBS 218, HBS 219, Table 25 | 2. Coverage This table presents auction-wise details of marketable Treasury Bills issued by the Government of India during the reference period. It covers (a) 91-day Treasury Bills, (b) 182-day Treasury Bills, and (c) 364-day Treasury Bills, issued through the auctions conducted by Reserve Bank of India. 3. Data Presentation Features • Auction-wise data arranged by date of auction within the financial year. • Notified Amount (₹ crore). • Bids Received: o Number of bids o Total face value (₹ crore) o Break-up into Competitive and Non-Competitive bids • Bids Accepted: o Number of bids o Total face value (₹ crore) o Break-up into Competitive and Non-Competitive allotments • Total Issue (sum of Competitive and Non-Competitive allotments). • Cut-off Price (₹) • Implicit Yield at Cut-off Price (per cent) 4. Notes -
Treasury Bills are short-term discount instruments issued by the Government of India through auctions conducted by the Reserve Bank of India. -
Implicit yield is derived from the cut-off price of the auction. | TABLE 27: DAILY CALL MONEY RATES | | Item | Description | | Thematic Category | Financial Markets | | Reference Period | Daily observations for the reference month | | Unit | Per cent per annum | | Source Department | FMOD | | Primary Data Source | RBI | | Revision Policy | Data are based on reported transactions and not subject ot revisions | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Financial Markets
• DBIE > Statistics > Financial Market > Money Market | | Related Tables | HBS 173, HBS 224 | 2. Coverage This table presents daily call money market rates in the inter-bank market. It includes: The data reflect unsecured inter-bank borrowing and lending transactions. 3. Data Presentation Features -
Daily data arranged by date (‘As on’). -
Range of Rates (Borrowings/Lending), indicating the minimum and maximum rates observed during the day. -
Weighted Average Rate (Borrowings/Lending) for the day. -
Rates are expressed in per cent per annum. -
The table includes Notice Money transactions, as indicated in the footnote. 4. Notes -
The call money market is an unsecured inter-bank money market for very short-term funds. -
The weighted average call rate serves as a key indicator of short-term liquidity conditions in the banking system. -
Movements in call money rates reflect liquidity conditions, demand for overnight funds, and the stance of monetary policy. -
Data are compiled from inter-bank transactions reported to the Reserve Bank of India. | TABLE 28: CERTIFICATES OF DEPOSIT (CDs) | | Item | Description | | Thematic Category | Financial Markets | | Reference Period | Positions as on reporting fortnight-end dates. | | Unit | ₹ crore (amounts) Per cent (interest rate range) | | Source Department | FMOD | | Primary Data Source | RBI | | Revision Policy | No revision | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Financial Markets
• DBIE > Statistics > Financial Market > Money Market | | Related Tables | WSS 10, HBS 213 | 2. Coverage This table presents fortnightly data on Certificates of Deposit (CDs) issued by Scheduled Commercial Banks and Select All-India Financial Institutions. It reflects the outstanding position of CDs and issuance activity during the reporting period along with the range of interest rates. 3. Data Presentation Features -
Data are presented for fortnight-end dates within the financial year. -
Amount Outstanding (₹ crore) as on the reporting date. -
Amount Issued during the Fortnight (₹ crore). -
Range of Interest Rates (per cent) applicable during the reporting period (minimum–maximum). -
Amounts are expressed in ₹ crore and interest rates in per cent. 4. Notes -
Certificates of Deposit are negotiable money market instruments issued in dematerialised form by banks and eligible financial institutions for short-term fund mobilisation. -
Amount Outstanding represents the stock position, while issuance during the fortnight represents flow during the period. -
CDs are typically issued at a discount and redeemed at face value on maturity. -
The interest rate range reflects market-determined rates during the reporting fortnight. -
Data are compiled based on reporting to the Reserve Bank of India. | TABLE 29: COMMERCIAL PAPER (CP) | | Item | Description | | Thematic Category | Financial Markets | | Reference Period | Fortnight-end positions; issuance reported during the fortnight. | | Unit | ₹ crore (amounts), per cent (interest rate range) | | Source Department | FMOD | | Primary Data Source | RBI | | Revision Policy | No revision | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Financial Markets
• DBIE > Statistics > Financial Market > Money Market | | Related Tables | WSS 11, HBS 212 | 2. Coverage This table presents fortnightly data on Commercial Paper (CP) issued by Corporates, Primary Dealers and All-India Financial Institutions. It reflects the outstanding position of CP and issuance activity during the reporting period, along with the range of interest rates. 3. Data Presentation Features -
Data are presented for specified reporting dates (fortnight-end positions) within the financial year. -
Amount Outstanding (₹ crore) represents the total outstanding stock of Commercial Paper as on the reporting date. -
Reported during the fortnight (₹ crore) represents issuances of Commercial Paper reported during the reporting fortnight. -
Rate of Interest (per cent) is presented as a range (minimum–maximum) applicable to issuances during the reporting period. -
Data are presented separately for each reporting date, enabling comparison across periods. 4. Notes -
Amount Outstanding represents the stock position, while reported issuance represents flow during the reporting period. -
The interest rate range reflects market-determined rates during the reporting fortnight. -
Data are compiled based on reporting to the Reserve Bank of India. | TABLE 30: AVERAGE DAILY TURNOVER IN SELECT FINANCIAL MARKETS | | Item | Description | | Thematic Category | Financial Markets | | Reference Period | Weekly (average daily turnover for the week) | | Unit | ₹ crore (all segments except Forex); US$ million (Forex) | | Source Department | FMOD, FMRD, IDMD | | Primary Data Source | CCIL, e-Kuber, RBI | | Revision Policy | No revision | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Financial Markets
• DBIE > Statistics > Financial Market > Money Market | | Related Tables | HBS 187, HBS 216 | 2. Coverage This table presents average daily turnover in select segments of the Indian financial markets. It covers money market instruments, repo segments, government securities market, and foreign exchange market. The data reflect trading activity across major financial market segments. 3. Data Presentation Features -
Data are presented for specified week-ending dates during the financial year. -
Figures represent average daily turnover for the week, calculated as total traded volume divided by the number of working days. 4. Notes -
Data are compiled from CCIL settlement systems and RBI operational platforms, including e-Kuber. -
Turnover figures reflect market trading volumes and liquidity conditions across key financial market segments. | TABLE 31: NEW CAPITAL ISSUES BY NON-GOVERNMENT PUBLIC LIMITED COMPANIES | | Item | Description | | Thematic Category | Financial Markets | | Reference Period | Monthly | | Unit | Number of issues; ₹ crore (amount raised) | | Source Department | DEPR | | Primary Data Source | SEBI | | Revision Policy | Latest period data are provisional and subject to revision. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Financial Markets
• DBIE > Statistics > Financial Market > Equity and Corporate Debt Market | | Related Tables | HBS 67, HBS 178 | 2. Coverage This table presents data on capital raised by non-government public limited companies in the primary market. It covers: • Equity Shares o Public Issues o Rights Issues • Public Issue of Bonds / Debentures • Total Capital Raised (Equity + Bonds/Debentures) The table includes only public and rights issuances of equity and debt instruments. It does not include: 3. Data Presentation Features -
Equity issues are further classified into public issues and rights issues. -
Data are presented in ₹ crore for amount and absolute numbers for issues. -
Covers primary market issuances only. 4. Notes -
Since April 2020, monthly data on equity issues are compiled on the basis of their listing date. -
The data relate only to public and rights issues of equity and debt securities. -
Figures may not add up to totals due to rounding. | TABLE 32: FOREIGN TRADE | | Item | Description | | Thematic Category | External Sector | | Reference Period | Monthly data and financial year aggregates | | Unit | ₹ crore; US$ million | | Source Department | DEPR | | Primary Data Source | Directorate General of Commercial Intelligence and Statistics (DGCI&S) | | Revision Policy | Data are provisional and subject to revision. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector
• DBIE > Statistics > External Sector > International Trade | | Related Tables | HBS 114, HBS 115, HBS 190, HBS 191, HBS 192, HBS 193 | 2. Coverage This table presents India’s merchandise trade data. It includes: • Exports o Oil o Non-oil • Imports o Oil o Non-oil • Trade Balance o Oil o Non-oil The table covers merchandise (goods) trade only. 3. Data Presentation Features -
Each item is shown in ₹ crore as well as US$ million. -
Trade balance is derived as exports minus imports. -
Imports are reported on a CIF basis, exports on an FOB basis. -
Latest period data are provisional, as indicated. -
Figures may not add up due to rounding. 4. Notes | TABLE 33: FOREIGN EXCHANGE RESERVES | | Item | Description | | Thematic Category | External Sector | | Reference Period | Week-ending data (positions as on specified dates) | | Unit | ₹ crore; US$ million | | Source Department | DEIO | | Primary Data Source | RBI | | Revision Policy | Data are provisional and subject to revision. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector
• DBIE > Statistics > External Sector > Forex Reserve | | Related Tables | HBS 147, HBS 209, HBS 214 | 2. Coverage This table presents India’s gross foreign exchange reserves position. It includes: • Total Reserves • Foreign Currency Assets (FCA) • Gold o Value (₹ crore and US$ million) o Volume (Metric Tonnes) • Special Drawing Rights (SDRs) o SDR million o ₹ crore o US$ million • Reserve Tranche Position (RTP) in the IMF o ₹ crore o US$ million 3. Data Presentation Features -
Gold holdings are additionally presented in metric tonnes. -
SDR holdings are presented in SDR million along with rupee and US dollar equivalents. -
Figures may not add up due to rounding. -
Data reflect gross reserve position. 4. Notes -
The table excludes Investment in foreign currency denominated bonds issued by IIFC (UK), SDRs transferred by Government of India to RBI, Foreign currency received under SAARC and ACU currency swap arrangements and RBI’s contribution to funding of Nexus Global Payments. -
Latest data are provisional. | TABLE 34: NON-RESIDENT DEPOSITS | | Item | Description | | Thematic Category | External Sector | | Reference Period | Outstanding as on month-end; flows for financial year | | Unit | US$ million | | Source Department | DEPR | | Primary Data Source | RBI | | Revision Policy | Data are provisional and subject to revision. | | DBIE Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector
DBIE > Statistics > External Sector > International Finance | | Related Tables | HBS 142, HBS 143, HBS 144, HBS 145 | 2. Coverage This table presents non-resident deposit liabilities of banks. It includes: Break-up by scheme: -
FCNR (B) Accounts -
NR(E)RA Accounts -
NRO Accounts The table presents both outstanding stock and net flows. 3. Data Presentation Features -
Outstanding deposits are shown as on specified month-end dates. -
Flow data are presented cumulatively for the financial year. -
Provisional data are indicated by (P). -
Figures may not add up due to rounding. 4. Notes -
Deposits are mobilised under schemes governed by FEMA regulations and RBI directions. -
Movements reflect deposit mobilisation, redemptions and exchange rate effects. -
The table provides an indicator of external liabilities of the banking system | TABLE 35: FOREIGN INVESTMENT INFLOWS | | Item | Description | | Thematic Category | External Sector | | Reference Period | Monthly and cumulative financial year data | | Unit | US$ million | | Source Department | DEPR | | Primary Data Source | RBI | | Revision Policy | Data are provisional and subject to revision. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector
• DBIE > Statistics > External Sector > International Finance | | Related Tables | HBS 146 | 2. Coverage This table presents foreign investment inflows under the capital account of India’s Balance of Payments. It includes: A. Foreign Direct Investment (FDI) o Net FDI o Direct Investment to India - Gross Inflows (Equity, Reinvested Earnings, Other Capital), Repatriation / Disinvestment (Direct Investment by India (Outward FDI)) B. Foreign Portfolio Investment o Net Portfolio Investment o Foreign Portfolio Investors (FPIs) o GDRs/ADRs (where applicable) o Offshore funds and others o Portfolio Investment by India C. Total Foreign Investment Inflows (Net FDI + Net Portfolio Investment) 3. Data Presentation Features -
Monthly data are shown along with cumulative April–December financial year aggregates. -
Provisional data are indicated by (P). -
FDI data are presented on a gross and net basis, including components such as equity, reinvested earnings and other capital. -
Portfolio investment includes equity and debt flows. -
Figures may not add up due to rounding. 4. Notes -
Data are compiled in accordance with the IMF Balance of Payments Manual (BPM6). -
Net FDI represents inward direct investment minus outward direct investment. -
Portfolio investment reflects transactions by Foreign Portfolio Investors and other portfolio flows. -
The table provides insights into capital flows and external financing conditions. | TABLE 36: OUTWARD REMITTANCES UNDER THE LIBERALISED REMITTANCE SCHEME (LRS) FOR RESIDENT INDIVIDUALS | | Item | Description | | Thematic Category | External Sector | | Reference Period | Monthly | | Unit | US$ million | | Source Department | DEPR | | Primary Data Source | RBI (Authorised Dealer Category-I Banks Reporting) | | Revision Policy | Data are provisional and subject to revision. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector
• DBIE > Statistics > External Sector > International Finance | | Related Tables | - | 2. Coverage This table presents outward remittances made by resident individuals under the Liberalised Remittance Scheme (LRS). It covers remittances for: -
Deposits -
Purchase of immovable property -
Investments in equity/debt -
Gifts -
Donations -
Travel -
Maintenance of close relatives -
Medical Treatment -
Studies abroad and -
Others 3. Data Presentation Features -
Monthly remittance amounts. -
Based on reporting by Authorised Dealer banks. -
Data represent outward remittance flows during the period. 4. Notes -
LRS permits resident individuals to remit up to the prescribed annual limit under FEMA regulations. -
Other remittances include items such as subscription to journals, maintenance of investments abroad, student loan repayments and credit card payments. | TABLE 37: INDICES OF NOMINAL EFFECTIVE EXCHANGE RATE (NEER) AND REAL EFFECTIVE EXCHANGE RATE (REER) | | Item | Description | | Thematic Category | External Sector | | Reference Period | Monthly | | Unit | Index | | Source Department | DEPR, FMOD | | Primary Data Source | RBI | | Revision Policy | Latest data may be provisional | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector
• DBIE > Statistics > External Sector > External Sector Indices | | Related Tables | HBS 137, HBS 138, HBS 139, HBS 140, HBS 206 | 2. Coverage This table presents indices of Nominal Effective Exchange Rate (NEER), Real Effective Exchange Rate (REER). Indices are compiled for: A. 40-Currency Basket -
Trade-Weighted NEER -
Trade-Weighted REER -
Export-Weighted NEER -
Export-Weighted REER B. 6-Currency Basket (Trade-Weighted) Indices are published with base year as notified (e.g., 2015-16 = 100 and 2022-23 = 100 for select series). 3. Data Presentation Features 4. Notes -
Indices are constructed using trade-based weights of partner country currencies. -
The 40-currency basket represents a broad trade profile; the 6-currency basket covers major currencies. -
NEER is a weighted average of bilateral nominal exchange rates. -
REER is computed using Consumer Price Index (combined) -
An increase (decrease) in the index indicates appreciation (depreciation) relative to the base year. -
Base year and basket composition are revised periodically. | TABLE 38: EXTERNAL COMMERCIAL BORROWINGS (ECBs) – REGISTRATIONS | | Item | Description | | Thematic Category | External Sector | | Reference Period | Monthly | | Unit | Number; US$ million; Per cent | | Source Department | DSIM | | Primary Data Source | RBI | | Revision Policy | No revision | | DBIE Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector | | Related Tables | — | 2. Coverage This table presents details of External Commercial Borrowings (ECBs) registered during the reference month. It includes: • Number of ECBs registered • Amount Registered (US$ million) • Route (Automatic / Approval) • Weighted Average Maturity (Years) • Interest rate details o Weighted average margin over Alternative Reference Rate (ARR) for floating rate loans o Interest rate range for fixed-rate loans 3. Data Presentation Features -
Monthly registration data (not disbursement data). -
Separate reporting for automatic and approval route -
Total registrations (Number and Amount) -
Maturity and interest rate indicators presented separately -
Borrower category-wise break-up. -
Latest data are provisional. 4. Notes -
ECBs refer to commercial loans raised by eligible Indian entities from non-resident lenders in accordance with RBI guidelines. -
Data are based on applications for ECBs/Foreign Currency Convertible Bonds (FCCBs) allotted Loan Registration Numbers (LRNs) during the period. -
Figures represent registrations during the month and do not reflect actual drawdowns. -
With effect from July 1, 2023, the benchmark rate for floating rate loans is the Alternative Reference Rate (ARR). | TABLE 39(a): INVOICING IN INR OF EXPORTS OF GOODS AND SOFTWARE AND IMPORTS OF GOODS FROM/TO INDIA | | Item | Description | | Thematic Category | External Sector | | Reference Period | Cumulative, April to Reporting Month | | Unit | ₹ billion; Percentage share in parenthesis | | Source Department | FED | | Primary Data Source | RBI | | Revision Policy | Data are subject to updates/corrections | | DBIE Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector | | Related Tables | Table 39(b) | 2. Coverage This table presents data on external trade transactions invoiced in Indian Rupees (INR). It covers: -
Exports of Goods -
Exports of Software -
Imports of Goods The table also provides borrower category-wise classification of ECB registrations. 3. Data Presentation Features -
Cumulative values from April to the reporting month -
Financial year totals where applicable -
Values presented in ₹ billion -
Percentage share of INR invoicing in total trade (figures shown in parentheses) 4. Notes -
Data relate to the currency of invoicing and not the currency of settlement. -
Figures in parentheses indicate the percentage share of INR invoicing relative to all currencies. -
Data are based on Authorised Dealer (AD) bank reporting through the EDPMS/IDPMS portal and are subject to updates/corrections. | TABLE 39(b): SETTLEMENT IN INR OF EXPORTS OF GOODS AND SOFTWARE AND IMPORTS OF GOODS FROM/TO INDIA | | Item | Description | | Thematic Category | External Sector | | Reference Period | Cumulative (April to Reporting Month) | | Unit | ₹ billion; Percentage share in parenthesis | | Source Department | FED | | Primary Data Source | RBI | | Revision Policy | Data are subject to updates/corrections | | DBIE Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector | | Related Tables | Table 39(a) | 2. Coverage This table presents external trade transactions settled in Indian Rupees (INR). It covers: -
Exports of Goods -
Exports of Software -
Imports of Goods 3. Data Presentation Features -
Cumulative values from April to the reporting month -
Financial year totals where applicable -
Values presented in ₹ billion -
Percentage share of INR settlement in total trade (figures shown in parentheses) 4. Notes -
Data relate to the currency of settlement and are distinct from invoicing data presented in Table 39(a). -
Data are based on Authorised Dealer (AD) bank reporting through the EDPMS/IDPMS portal and are subject to updates/corrections | TABLE 40: INDIA’S OVERALL BALANCE OF PAYMENTS (US$ MILLION) | | Item | Description | | Thematic Category | External Sector | | Reference Period | Quarterly | | Unit | US$ million | | Source Department | DEPR | | Primary Data Source | RBI | | Revision Policy | Data are subject to revision. | | DBIE Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector
• DBIE > Statistics > External Sector > International Trade | | Related Tables | HBS 127, HBS 194, Table 41 | 2. Coverage This table presents India’s Balance of Payments (BoP) position in US dollar terms. It includes: A. Current Account • Merchandise • Invisibles: o Services o Transfers o Income B. Capital Account -
Foreign Investment (Direct and Portfolio) -
Loans (including External Assistance, Commercial Borrowings, Short-term) -
Banking Capital -
Rupee Debt Service -
Other Capital C. Errors and Omissions D. Monetary Movements 3. Data Presentation Features -
Credit, Debit and Net components presented separately; detailed sub-classification of Current and Capital Account items. -
Preliminary data identified as P, where applicable. 4. Notes -
Compiled in accordance with the IMF Balance of Payments framework. -
Net balance represents Credit minus Debit. -
Increase in Foreign Exchange Reserves is shown with a negative sign; decrease with a positive sign. | TABLE 41: INDIA’S OVERALL BALANCE OF PAYMENTS (₹ CRORE) | | Item | Description | | Thematic Category | External Sector | | Reference Period | Quarterly | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI | | Revision Policy | Data are subject to revision | | DBIE Dataset Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector
• DBIE > Statistics > External Sector > International Trade | | Related Tables | HBS 128, HBS 195, Table 40 | 2. Coverage This table presents India’s Balance of Payments (BoP) position in ₹ crore terms. It includes: A. Current Account • Merchandise • Invisibles: o Services o Transfers o Income B. Capital Account -
Foreign Investment (Direct and Portfolio) -
Loans (including External Assistance, Commercial Borrowings, Short-term) -
Banking Capital -
Rupee Debt Service -
Other Capital C. Errors and Omissions D. Monetary Movements 3. Data Presentation Features -
Credit, Debit and Net components presented separately, detailed sub-classification of Current and Capital Account items. -
Preliminary data identified as P, where applicable 4. Notes -
Same presentation as Table 40, expressed in ₹ crore terms. -
Net balance represents Credit minus Debit. -
Increase in Foreign Exchange Reserves is shown with a negative sign; decrease with a positive sign | TABLE 42: STANDARD PRESENTATION OF BoP IN INDIA AS PER BPM6 (US$ MILLION) | | Item | Description | | Thematic Category | External Sector | | Reference Period | Quarterly | | Unit | US$ million | | Source Department | DEPR | | Primary Data Source | RBI | | Revision Policy | Data are subject to revision | | DBIE Dataset Mapping | • DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector
• DBIE > Statistics > External Sector > International Trade | | Related Tables | HBS 129, HBS 196 | 2. Coverage This table presents India’s Balance of Payments in the standard BPM6 format in US dollar terms. It includes: A. Current Account -
Goods and Services -
Primary Income -
Secondary Income B. Capital Account C. Financial Account -
Direct Investment -
Portfolio Investment -
Financial Derivatives -
Other Investment -
Reserve Assets D. Total Assets/Liabilities E. Net Errors and Omissions 3. Data Presentation Features - Credit, Debit and Net components presented separately. Classification aligned to IMF Balance of Payments and International Investment Position Manual (BPM6). Financial account presented by functional classification. Preliminary data identified as P, where applicable. Based on the residence principle and double-entry accounting system.
4. Notes - Differs from Table 40 in classification structure (BPM6 compliant format). This table complements Table 43 (₹ crore version). Reserve Assets include monetary gold, SDRs, reserve position in the IMF and foreign currency assets.
| TABLE 43: STANDARD PRESENTATION OF BoP IN INDIA AS PER BPM6 (₹ CRORE) | | Item | Description | | Thematic Category | External Sector | | Reference Period | Quarterly | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI | | Revision Policy | Data are subject to revision | | DBIE Dataset Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector | | Related Tables | HBS 130, HBS 197 | 2. Coverage This table presents India’s Balance of Payments in the standard BPM6 format in ₹ crore terms. It includes: A. Current Account -
Goods and Services -
Primary Income -
Secondary Income B. Capital Account C. Financial Account -
Direct Investment -
Portfolio Investment -
Financial Derivatives -
Other Investment -
Reserve Assets D. Total Assets/Liabilities E. Net Errors and Omissions 3. Data Presentation Features - Credit, Debit and Net components presented separately. Classification aligned to IMF Balance of Payments and International Investment Position Manual (BPM6). Financial account presented by functional classification. Preliminary data identified as P, where applicable. Based on the residence principle and double-entry accounting system.
4. Notes - Differs from Table 41 in classification structure (BPM6 compliant format). This table is ₹ crore counterpart of Table 42 (US$ million version). Reserve Assets include monetary gold, SDRs, reserve position in the IMF and foreign currency assets. In the financial account, increase in reserve assets is shown as a negative sign, consistent with BPM6 presentation.
| TABLE 44: INDIA’S INTERNATIONAL INVESTMENT POSITION | | Item | Description | | Thematic Category | External Sector | | Reference Period | Quarterly (End of Quarter) | | Unit | US$ million | | Source Department | DSIM | | Primary Data Source | RBI | | Revision Policy | Data are subject to revision | | DBIE Dataset Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > External Sector | | Related Tables | HBS 200, HBS 201, HBS 202, HBS 203 | 2. Coverage This table presents India’s International Investment Position (IIP), which reflects: -
Stock of External Financial Assets -
Stock of External Financial Liabilities -
Net International Investment Position (Assets – Liabilities). 3. Data Presentation Features • Quarterly end-position data. • Assets and liabilities presented separately. • Compiled in accordance with the IMF Balance of Payments and International Investment Position Manual (BPM6). • Assets classified into: o Direct Investment o Portfolio Investment o Financial Derivatives o Other Investment o Reserve Assets • Liabilities classified into: o Direct Investment o Portfolio Investment o Financial Derivatives o Other Investment 4. Notes -
Net IIP represents the difference between external financial assets and liabilities. -
Equity capital includes share of investment funds and reinvested earnings. -
Complementary to Tables 40–43 (Balance of Payments). | TABLE 45: PAYMENT SYSTEM INDICATORS | | Item | Description | | Thematic Category | Payment and Settlement Systems | | Reference Period | Monthly | | Unit | Volume (Lakh); Value (₹ crore); Infrastructure indicators (Lakh / Million, as applicable) | | Source Department | DPSS | | Primary Data Source | RBI, CCIL, NPCI and other authorised Payment System Operators | | Revision Policy | Data are subject to revision | | DBIE Dataset Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Payment and Settlement Systems | | Related Tables | HBS 61 | 2. Coverage This table presents key indicators relating to India’s payment and settlement systems. It covers A. Settlement Systems (Financial Market Infrastructures (FMIs), including CCIL-operated systems (Government Securities, Forex Clearing, Rupee Derivatives). B. Payments Systems (a) Large Value Payment Systems (RTGS) (b) Retail Payment Systems (Credit Transfers (NEFT, UPI, IMPS, AePS, APBS, NACH Credit, etc.), Debit Transfers and Direct Debits (NACH Debit, NETC, BHIM Aadhaar Pay, etc.), Card Payments (Credit and Debit Cards), Prepaid Payment Instruments (Wallets and Cards), Paper-based Instruments (CTS (Cheque Truncations System) and others). C. Payment Modes and Channels (Mobile Payments, Internet Banking, ATM, PoS terminals and Micro-ATM transactions). D. Payment System Infrastructure and Acceptance Infrastructure (Cards, PPIs, ATMs (Bank-owned and White Label), Micro ATMs, PoS Terminals, Bharat QR and UPI QR). 3. Data Presentation Features -
Monthly transaction volume and value. -
Volume reported in Lakh; Value in ₹ crore. -
Infrastructure indicators presented as stock positions (as on month-end). 4. Notes -
Data are compiled from RBI-operated systems and authorised payment system operators. -
Only domestic financial transactions are included. Latest data are provisional. -
Failed transactions, chargebacks, reversals, expired cards/wallets are excluded. -
Classification and coverage may change due to system integration, reporting revisions, or new inclusions (as indicated in table footnotes). -
Mobile payments include transactions carried out through mobile banking applications and UPI applications. | TABLE 46: SMALL SAVINGS | | Item | Description | | Thematic Category | Occasional Series | | Reference Period | Monthly (Updated Quarterly) | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | Accountant General, Post & Telegraphs | | Revision Policy | Data are subject to revision | | DBIE Dataset Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Occasional Series | | Related Tables | HBS 112 | 2. Coverage This table presents data on collections and outstanding balances under Small Savings Schemes. The table covers major categories of small savings, including: 3. Data Presentation Features -
Data are presented for financial year totals and for selected monthly observations. -
Receipts (net collections) and outstanding balances are shown separately for each scheme. -
Outstanding balances represent end-period positions. 4. Notes | TABLE 47: OWNERSHIP PATTERN OF CENTRAL AND STATE GOVERNMENT SECURITIES | | Item | Description | | Thematic Category | Occasional Series | | Reference Period | Quarterly (End of Quarter) | | Unit | ₹ crore; Per cent (percentage share) | | Source Department | IDMD | | Primary Data Source | RBI | | Revision Policy | Data are not subject to revision | | DBIE Dataset Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Occasional Series | | Related Tables | HBS 110 | 2. Coverage This table presents the ownership pattern of holdings of: It reflects the investor-wise composition of outstanding government securities at the end of the reference quarter. 3. Data Presentation Features -
Data are presented as outstanding stock positions at quarter-end. -
Values are shown in ₹ crore and percentage share. -
Investor categories include: Commercial Banks (including Bank PDs), Co-operative Banks, Non-Bank Primary Dealers, Insurance Companies, Mutual Funds, Provident Funds, Pension Funds, Financial Institutions, Corporates, Foreign Portfolio Investors, RBI, and Others. 4. Notes -
Central Government Dated Securities include special securities and Sovereign Gold Bonds. -
State Government Securities include special bonds issued under UDAY. -
Bank Primary Dealers are clubbed under Commercial Banks. -
The category ‘Others’ comprises State Governments, DICGC, PSUs, Trusts, Foreign Central Banks, HUFs/Individuals, etc. -
Data since September 2023 include the impact of the merger of a non-bank with a bank. | TABLE 48: COMBINED RECEIPTS AND DISBURSEMENTS OF THE CENTRAL AND STATE GOVERNMENTS | | Item | Description | | Thematic Category | Occasional Series | | Reference Period | Financial Year | | Unit | ₹ crore; Per cent of GDP | | Source Department | DEPR | | Primary Data Source | Budget Documents of Central and State Governments | | Revision Policy | Revised in accordance with updates in Budget documents and availability of revised data | | DBIE Dataset Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Occasional Series | | Related Tables | HBS 101, HBS 102, HBS 103, HBS 104 | 2. Coverage This table presents consolidated fiscal operations of: -
Central Government -
State Governments. It includes combined receipts, disbursements, deficit indicators, and financing of the fiscal deficit. Data are presented after consolidation adjustments and are net of repayments of the Central and State Governments. Receipts include borrowing receipts and are presented net of variations in cash balances. 3. Data Presentation Features Disbursements are classified into Developmental, Non-Developmental and Others. Revenue and Capital classification of Receipts and Disbursements is presented. Deficit indicators include Gross Fiscal Deficit, Revenue Deficit (implicit through components) and Primary balance components (derived through financing details). Sources of financing are presented as Domestic Financing (Bank and Non-Bank) and External Financing. Instrument-wise classification includes Market Borrowings, Small Savings, State Provident Funds and Other financing instruments. Selected indicators are presented as per cent of GDP. 4. Notes -
Compiled broadly in line with the IMF Government Finance Statistics (GFS) framework. -
Data pertain to 28 States and 8 Union Territories. -
Receipts and disbursements are net of repayments of the Central Government (including repayments to NSSF) and State Governments. Receipts include borrowing receipts and are net of variation in cash balances of the Central and State Governments. -
Net lending from the Centre to States is adjusted in consolidation. -
GDP data are based on the 2011-12 base. -
RE denotes Revised Estimates; BE denotes Budget Estimates. | TABLE 49: FINANCIAL ACCOMMODATION AVAILED BY STATE GOVERNMENTS UNDER VARIOUS FACILITIES | | Item | Description | | Thematic Category | Occasional Series | | Reference Period | Monthly | | Unit | ₹ crore; Number of days | | Source Department | IDMD | | Primary Data Source | e-Kuber, RBI | | Revision Policy | Data are based on actual utilisation and are not subject to revision | | DBIE Dataset Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Occasional Series | | Related Tables | — | 2. Coverage This table presents the utilisation of liquidity support facilities by State Governments and Union Territories. It covers Special Drawing Facility (SDF), Ways and Means Advances (WMA) and Overdraft (OD) 3. Data Presentation Features -
State/UT-wise presentation -
For each facility, the following are reported for Average amount availed (₹ crore) and Number of days availed during the month -
Data relate to the specified reference month -
‘–’ indicates nil utilisation 4. Notes -
SDF is availed by State Governments against the collateral of Consolidated Sinking Fund (CSF), Guarantee Redemption Fund (GRF), Auction Treasury Bills (ATBs) balances, and other investments in government securities. WMA is an advance provided by the Reserve Bank of India to State Governments to meet temporary cash mismatches. OD is availed by State Governments beyond their WMA limits, subject to regulatory conditions. -
Average amount availed represents total accommodation (SDF/WMA/OD) divided by the number of days for which the facility was utilised during the month. | TABLE 50: INVESTMENTS BY STATE GOVERNMENTS | | Item | Description | | Thematic Category | Occasional Series | | Reference Period | Monthly | | Unit | ₹ crore | | Source Department | IDMD | | Primary Data Source | e-Kuber, RBI | | Revision Policy | Data are based on actual balances and are not subject to revision | | DBIE Dataset Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Occasional Series | | Related Tables | — | 2. Coverage This table presents the investment of surplus funds by State Governments and Union Territories in: State/UT-wise data are presented as outstanding balances at the end of the reference month. 3. Data Presentation Features 4. Notes -
CSF, GRF and BSF are reserve funds maintained with the Reserve Bank of India. -
ATBs include Treasury Bills of 91 days, 182 days and 364 days purchased through non-competitive bidding in the primary market. -
CSF and GRF are maintained separately from the Consolidated Fund of the State. | TABLE 51: MARKET BORROWINGS OF STATE GOVERNMENTS | | Item | Description | | Thematic Category | Occasional Series | | Reference Period | Financial year aggregates and monthly issuances during the current financial year | | Unit | ₹ crore | | Source Department | IDMD | | Primary Data Source | e-Kuber, RBI | | Revision Policy | Data are based on actual issuances and are not subject to revision. | | DBIE Dataset Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Occasional Series | | Related Tables | — | 2. Coverage This table presents state-wise market borrowings of State Governments. It includes: -
Gross Market Borrowings through State Development Loans (SDLs) -
Net Market Borrowings (Gross minus Redemptions) -
Monthly issuances during the current financial year 3. Data Presentation Features -
State-wise presentation of borrowing data. -
Gross and Net borrowings shown separately. -
Annual aggregates for completed financial years. -
Monthly issuances for the ongoing financial year. 4. Notes -
Net borrowings = Gross borrowings minus redemptions. -
Data are based on issuances through RBI’s e-Kuber platform. -
The State of Jammu & Kashmir ceased to exist constitutionally from October 31, 2019; its liabilities continue as liabilities of the Union Territory of Jammu & Kashmir. | TABLE 52(a): FLOW OF FINANCIAL ASSETS AND LIABILITIES OF HOUSEHOLDS – INSTRUMENT-WISE | | Item | Description | | Thematic Category | Occasional Series | | Reference Period | Quarterly | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI, NSO (MoSPI) and other regulatory sources | | Revision Policy | Preliminary and revised estimates as per national income data releases | | DBIE Dataset Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Occasional Series | | Related Tables | HBS 12 | 2. Coverage This table presents quarterly flows of the household sector’s financial balance sheet. It includes: -
Net Financial Assets (Financial Assets – Financial Liabilities) -
Financial Assets (instrument-wise) -
Financial Liabilities (instrument-wise) Asset categories include: Deposits (Bank and Non-Bank), Life Insurance Funds, Provident and Pension Funds (including PPF), Currency, Investments (Mutual Funds and Equity), Small Savings. Liability categories include: Loans from Financial Corporations (Banking Sector and Other Financial Institutions), Loans from Non-Financial Corporations, Loans from General Government 3. Data Presentation Features 4. Notes -
Net financial savings of households correspond to net financial assets, defined as the difference between financial asset and liability flows. -
Non-bank deposits, apart from other financial institutions, include state power utilities, co-operative non-credit societies, etc. -
Figures may not add up to totals due to rounding. -
Complements Table 52(b) (stock position). | TABLE 52(b): STOCKS OF FINANCIAL ASSETS AND LIABILITIES OF HOUSEHOLDS – SELECT INDICATORS | | Item | Description | | Thematic Category | Occasional Series | | Reference Period | Quarterly | | Unit | ₹ crore | | Source Department | DEPR | | Primary Data Source | RBI, NSO (MoSPI), Controller General of Accounts (CGA) and others | | Revision Policy | Revised as per source agency releases | | DBIE Dataset Mapping | DBIE > Publication > Time-Series Publications > Monthly RBI Bulletin > Occasional Series | | Related Tables | HBS 12, Table 52(a) | 2. Coverage This table presents end-period stock position of the household sector’s financial balance sheet. Financial Assets include Bank Deposits (Commercial and Co-operative Banks), Non-Bank Deposits, Life Insurance Funds, Currency, Mutual Funds, Public Provident Fund (PPF), Pension Funds, Small Savings (excluding PPF). Financial Liabilities include Loans/Borrowings from the Banking Sector, Loans/Borrowings from Other Financial Institutions. 3. Data Presentation Features -
Quarterly end-position data (June, September, December and March). -
Select indicators expressed as per cent of GDP. -
Instrument-wise classification of assets and liabilities. 4. Notes -
Ratios to GDP are calculated using the Provisional Estimates of National Income released by NSO. -
Pension funds comprise funds under the National Pension Scheme (NPS). -
Outstanding deposits under Small Savings are sourced from the Controller General of Accounts, Government of India. -
Figures may not add up due to rounding. -
Complements Table 52(a) (flow data).
ANNEX: LIST OF ABBREVIATIONS USED IN THIS HANDBOOK | AePS : | Aadhaar Enabled Payment System | | ARR : | Alternative Reference Rate | | ATM : | Automated Teller Machine | | BE : | Budget Estimates | | BoP : | Balance of Payments | | BPM6 : | Balance of Payments and International Investment Position Manual (Sixth Edition) | | BSR : | Basic Statistical Return | | CCIL : | Clearing Corporation of India Limited | | CD : | Credit-Deposit | | CGA : | Controller General of Accounts | | CIF : | Cost, Insurance and Freight | | CIMS : | Centralised Information Management System | | CPI : | Consumer Price Index | | CPI-AL : | Consumer Price Index for Agricultural Labourers | | CPI-IW : | Consumer Price Index for Industrial Workers | | CPI-RL : | Consumer Price Index for Rural Labourers | | CRR : | Cash Reserve Ratio | | CTS : | Cheque Truncation System | | DBIE : | Database on Indian Economy | | DEIO : | Department of External Investments and Operations | | DEPR : | Department of Economic and Policy Research | | DoR : | Department of Regulation | | DPSS : | Department of Payment and Settlement Systems | | DSIM : | Department of Statistics and Information Management | | ECB : | External Commercial Borrowings | | e-Kuber : | RBI Core Banking Solution | | FBIL : | Financial Benchmark India Ltd. | | FCA : | Foreign Currency Assets | | FCCB : | Foreign Currency Convertible Bond | | FDI : | Foreign Direct Investment | | FED : | Foreign Exchange Department | | FEMA : | Foreign Exchange Management Act | | FMOD : | Financial Markets Operations Department | | FMRD : | Financial Markets Regulation Department | | FOB : | Free on Board | | FPI : | Foreign Portfolio Investment | | GDP : | Gross Domestic Product | | GFCF : | Gross Fixed Capital Formation | | GFCE : | Government Final Consumption Expenditure | | G-Sec : | Government Security | | GVA : | Gross Value Added | | HBS : | Handbook of Statistics on Indian Economy | | IDMD : | Internal Debt Management Department | | IIP : | Index of Industrial Production | | International Investment Position: | IIP | | IMF : | International Monetary Fund | | IMPS : | Immediate Payment Service | | INR : | Indian Rupee | | LAF : | Liquidity Adjustment Facility | | LBMA : | London Bullion Market Association | | LRN : | Loan Registration Number | | M0 : | Reserve Money | | M1 : | Narrow Money | | M3 : | Broad Money | | MSF : | Marginal Standing Facility | | MSS : | Market Stabilisation Scheme | | NACH : | National Automated Clearing House | | NDTL : | Net Demand and Time Liabilities | | NEER : | Nominal Effective Exchange Rate | | NEFT : | National Electronic Funds Transfer | | NFA : | Net Foreign Assets | | NM1 : | New Monetary Aggregate 1 | | NM2 : | New Monetary Aggregate 2 | | NM3 : | New Monetary Aggregate 3 | | NNML : | Net Non-Monetary Liabilities | | NPCI : | National Payments Corporation of India | | NRE : | Non-Resident (External) | | NRI : | Non-Resident Indian | | NRO : | Non-Resident Ordinary | | OMO : | Open Market Operation | | PE : | Provisional Estimates | | PFCE : | Private Final Consumption Expenditure | | PIO : | Person of Indian Origin | | PPI : | Prepaid Payment Instrument | | POS : | Point of Sale | | QIP : | Qualified Institutional Placement | | RE : | Revised Estimates | | REER : | Real Effective Exchange Rate | | RBI : | Reserve Bank of India | | RRB : | Regional Rural Bank | | RTP : | Reserve Tranche Position | | RTGS : | Real Time Gross Settlement | | SCB : | Scheduled Commercial Bank | | SDR : | Special Drawing Right | | SDF : | Standing Deposit Facility | | SDL : | State Development Loan | | SLR : | Statutory Liquidity Ratio | | TREP : | Tri-party Repo | | UPI : | Unified Payments Interface | | US$ : | United States Dollar | | WPI : | Wholesale Price Index | | WSS : | Weekly Statistical Supplement | | Y-o-Y : | Year-on-Year |
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