Document - Money Stock : Components and Sources () or PDF - Money Stock : Components and Sources ()
Date : Jan 30, 2026
Money Stock : Components and Sources
(₹ Crore)
Item Outstanding as on Variation over
2025 2026 Fortnight^ Financial Year so far Year-on-Year
2024-25 2025-26 2025 2026
Mar. 31 Jan. 15* Amount % Amount % Amount % Amount % Amount %
1 2 3 4 5 6 7 8 9 10 11 12
M3 27286589 29502905 -295639 -1.0 1771650 7.1 2216316 8.1 2381789 9.8 2791395 10.5
1 Components (1.1.+1.2+1.3+1.4)                        
1.1 Currency with the Public 3630751 3889772 61412 1.6 86943 2.5 259021 7.1 185348 5.6 392554 11.2
1.2 Demand Deposits with Banks 2840023 3137965 -284693 -8.3 32397 1.3 297942 10.5 211277 8.8 518680 19.8
1.3 Time Deposits with Banks 20702508 22358589 -73938 -0.3 1643221 8.7 1656081 8.0 1960004 10.6 1867208 9.1
1.4 ‘Other’ Deposits with Reserve Bank 113307 116579 1580 1.4 9089 9.6 3272 2.9 25160 32.1 12953 12.5
2 Sources (2.1+2.2+2.3+2.4-2.5)                        
2.1 Net Bank Credit to Government 8510825 8835589 84904 1.0 434796 5.7 324764 3.8 713240 9.7 797222 9.9
2.1.1 Reserve Bank 1508105 1707315 161754   -88503   199210   88673   602605  
2.1.2 Other Banks 7002720 7128274 -76850 -1.1 523299 8.2 125555 1.8 624567 9.9 194617 2.8
2.2 Bank Credit to Commercial Sector 19068129 20958810 -185980 -0.9 1385787 8.1 1890681 9.9 1871988 11.2 2370191 12.8
2.2.1 Reserve Bank 38246 16954 -3368   -3894   -21292   5285   6441  
2.2.2 Other Banks 19029883 20941856 -182612 -0.9 1389681 8.1 1911973 10.0 1866703 11.2 2363750 12.7
2.3 Net Foreign Exchange Assets of Banking Sector 6148527 6649134 63662 1.0 134965 2.4 500607 8.1 419668 7.9 946666 16.6
2.4 Government's Currency Liabilities to the Public 36632 39895 0 0 2251 6.7 3264 8.9 3086 9.5 4212 11.8
2.5 Banking Sector's Net Non-Monetary Liabilities 6477524 6980523 258225 3.8 186149 3.4 502999 7.8 626192 12.5 1326897 23.5
2.5.1 Net Non-Monetary Liabilities of RBI 2147427 2839420 69926 2.5 120614 6.7 691994 32.2 170522 9.8 928673 48.6
Note: Data include the impact of merger of a non-bank with a bank w.e.f. July 14, 2023.
^: With respect to December 31, 2025
*: With the change in the definition of fortnight vide The Banking Laws (Amendment) Act, 2025, data for money supply are published for the 15th and the last day of the month, effective December 15, 2025.

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