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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 : Jul 23, 2025
(₹ Crore)
Sources Outstanding as on March 31/last reporting Fridays of the month/reporting Fridays
2024-25 2024 2025
May 31 May 02 May 16 May 30
1 2 3 4 5
1 Net Bank Credit to Government 8463065 7370024 8626146 8690546 8446563
1 Net Bank Credit to Government (Including Merger) (8510825) (7454906) (8672729) (8737129) (8493151)
1.1 RBI’s net credit to Government (1.1.1–1.1.2) 1508105 966036 1652602 1746157 1479315
1.1.1 Claims on Government 1591591 1374629 1741551 1851653 1839456
1.1.1.1 Central Government 1558903 1363906 1703071 1815249 1811974
1.1.1.2 State Governments 32688 10723 38480 36404 27482
1.1.2 Government deposits with RBI 83485 408593 88949 105496 360141
1.1.2.1 Central Government 83443 408551 88906 105453 360099
1.1.2.2 State Governments 42 42 42 42 42
1.2 Other Banks’ Credit to Government 6954959 6403988 6973543 6944389 6967248
1.2 Other Banks Credit to Government (Including Merger) (7002720) (6488870) (7020127) (6990972) (7013836)
2 Bank Credit to Commercial Sector 18646762 17036241 18683378 18628149 18690046
2 Bank Credit to Commercial Sector (Including Merger) (19068129) (17547319) (19093866) (19034855) (19089019)
2.1 RBI’s credit to commercial sector 38246 11372 20762 19079 14393
2.2 Other banks’ credit to commercial sector 18608516 17024869 18662616 18609069 18675653
2.2 Other banks credit to commercial sector (Including Merger) (19029883) (17535948) (19073105) (19015776) (19074626)
2.2.1 Bank credit by commercial banks 17822605 16271803 17874468 17821005 17888404
2.2.1 Bank credit by commercial banks (Including Merger) (18243972) (16782882) (18284957) (18227712) (18287377)
2.2.2 Bank credit by co-operative banks 766659 734587 769110 768912 768000
2.2.3 Investments by commercial and co-operative banks in other securities 19252 18479 19038 19152 19249
2.2.3 Investments by commercial and co-operative banks in other securities (Including Merger) (19252) (18479) (19038) (19152) (19249)
3 Net Foreign Exchange Assets of Banking Sector (3.1 + 3.2) 6027804 5615739 6112152 6178440 6230153
3.1 RBIs net foreign exchange assets (3.1.1 - 3.1.2) 5550947 5289318 5635295 5701583 5753296
3.1.1 Gross foreign assets 5550956 5289319 5635303 5701581 5753292
3.1.2 Foreign liabilities 9 0 9 -3 -4
3.2 Other banks’ net foreign exchange assets 476857 326421 476857 476857 476857
4 Government’s Currency Liabilities to the Public 36632 33858 36922 36922 36922
5 Banking Sector’s Net Non-monetary Liabilities 5947120 4540947 5691280 5883889 5469155
5 Banking Sectors Net Non-monetary Liabilities (Including Merger) (6356801) (5041729) (6091019) (6280963) (5859677)
5.1 Net non-monetary liabilities of RBI 2147427 1610515 2257212 2300152 2099222
5.2 Net non-monetary liabilities of other banks (residual) 3799694 2930431 3434068 3583737 3369933
5.2 Net non-monetary liabilities of other banks (residual) (Including Merger) (4209375) (3431213) (3833807) (3980811) (3760454)
M3(1+2+3+4–5) 27227143 25514915 27767318 27650168 27934529
M3 (1+2+3+4-5) (Including Merger) (27286589) (25610093) (27824651) (27706384) (27989568)
Note: Figures in parentheses include the impact of merger of a non-bank with bank.
3.1 Include foreign currency denominated bonds issued by IIFC (UK).

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