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Document - 7. Sources of Money Stock (M<sub>3</sub>) () or PDF - 7. Sources of Money Stock (M<sub>3</sub>) ()
7. Sources of Money Stock (M3)
Date : Dec 22, 2025
(₹ Crore)
Sources Outstanding as on March 31/last reporting Fortnights of the month/reporting Fortnights
2024-25 2024 2025
Oct. 18 Oct. 03 Oct. 17 Oct. 31
1 2 3 4 5
1 Net Bank Credit to Government 8510825 7925482 8734167 8693936 8739870
1.1 RBI’s net credit to Government (1.1.1–1.1.2) 1508105 1132433 1538514 1491026 1529911
1.1.1 Claims on Government 1591591 1336185 1757512 1765985 1750740
1.1.1.1 Central Government 1558903 1312788 1735375 1735890 1730724
1.1.1.2 State Governments 32688 23398 22137 30095 20016
1.1.2 Government deposits with RBI 83485 203752 218998 274959 220829
1.1.2.1 Central Government 83443 203710 218955 274916 220786
1.1.2.2 State Governments 42 42 43 42 42
1.2 Other Banks’ Credit to Government 7002720 6793050 7195653 7202910 7209958
2 Bank Credit to Commercial Sector 19068129 18005269 20068221 20023678 20203749
2.1 RBI’s credit to commercial sector 38246 9175 12613 14936 13603
2.2 Other banks’ credit to commercial sector 19029883 17996094 20055608 20008742 20190146
2.2.1 Bank credit by commercial banks 18243972 17237674 19261332 19212429 19393655
2.2.2 Bank credit by co-operative banks 766659 737425 773813 775269 776084
2.2.3 Investments by commercial and co-operative banks in other securities 19252 20994 20463 21044 20407
3 Net Foreign Exchange Assets of Banking Sector (3.1 + 3.2) 6148527 5992868 6622726 6589610 6532531
3.1 RBIs net foreign exchange assets (3.1.1 - 3.1.2) 5550947 5630470 6035678 6002562 5945483
3.1.1 Gross foreign assets 5550956 5630473 6035678 6002564 5945482
3.1.2 Foreign liabilities 9 3 0 2 0
3.2 Other banks’ net foreign exchange assets 597580 362398 587048 587048 587048
4 Government’s Currency Liabilities to the Public 36632 34833 38864 38864 39231
5 Banking Sector’s Net Non-monetary Liabilities 6477524 5669170 6568708 6631649 6517874
5.1 Net non-monetary liabilities of RBI 2147427 1926618 2569200 2609138 2559728
5.2 Net non-monetary liabilities of other banks (residual) 4330098 3742552 3999508 4022511 3958146
M3(1+2+3+4–5) 27286589 26289282 28895269 28714438 28997506
Note: 3.1: Include foreign currency denominated bonds issued by IIFC (UK).

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