Document - Money Stock: Components and Sources () or PDF - Money Stock: Components and Sources ()
Date : Jun 12, 2026
Money Stock : Components and Sources
(₹ Crore)
Item Outstanding as on Variation over
2026 Fortnight^ Financial Year so far Year-on-Year
2025-26 2026-27 2025 2026
Mar. 31 May 31 Amount % Amount % Amount % Amount % Amount %
1 2 3 4 5 6 7 8 9 10 11 12
M3 31453126 31362050 338874 1.1 703348 2.6 -91076 -0.3 2379844 9.3 3372113 12.0
1 Components (1.1.+1.2+1.3+1.4)                        
1.1 Currency with the Public 4065488 4217181 16909 0.4 106145 2.9 151693 3.7 268097 7.7 480285 12.9
1.2 Demand Deposits with Banks 3844879 3463441 148178 4.5 291507 10.3 -381438 -9.9 480062 18.1 331911 10.6
1.3 Time Deposits with Banks 23410625 23554159 166125 0.7 308870 1.5 143534 0.6 1612721 8.3 2542780 12.1
1.4 ‘Other’ Deposits with Reserve Bank 132134 127269 7662 6.4 -3174 -2.8 -4865 -3.7 18964 20.8 17136 15.6
2 Sources (2.1+2.2+2.3+2.4-2.5)                        
2.1 Net Bank Credit to Government 9369275 9299369 -249904 -2.6 -17675 -0.2 -69906 -0.7 1038244 13.9 806218 9.5
2.1.1 Reserve Bank 2079086 1933637 -315721   -28791   -145449   513279   454322  
2.1.2 Other Banks 7290189 7365732 65817 0.9 11116 0.2 75543 1.0 524966 8.1 351896 5.0
2.2 Bank Credit to Commercial Sector 22226641 22365166 334874 1.5 20890 0.1 138525 0.6 1541700 8.8 3276147 17.2
2.2.1 Reserve Bank 28247 15146 3891   -23852   -13101   3022   752  
2.2.2 Other Banks 22198394 22350020 330983 1.5 44743 0.2 151627 0.7 1538678 8.8 3275394 17.2
2.3 Net Foreign Exchange Assets of Banking Sector 7126272 7063254 -87278 -1.2 202349 3.3 -63018 -0.9 735137 13.1 712378 11.2
2.4 Government's Currency Liabilities to the Public 40818 41332 142 0.3 659 1.8 515 1.3 3433 10.1 4041 10.8
2.5 Banking Sector's Net Non-Monetary Liabilities 7309880 7407071 -341040 -4.4 -497125 -7.7 97191 1.3 938671 18.6 1426672 23.9
2.5.1 Net Non-Monetary Liabilities of RBI 3065199 2889624 -355014 -10.9 -48204 -2.2 -175575 -5.7 488707 30.3 790402 37.7
Note: Data include the impact of merger of a non-bank with a bank w.e.f. July 14, 2023.
^: With respect to May 15, 2026.

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