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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 : Aug 28, 2025
(₹ Crore)
Sources Outstanding as on March 31/last reporting Fridays of the month/reporting Fridays
2024-25 2024 2025
Jun. 28 May 30 Jun. 13 Jun. 27
1 2 3 4 5
1 Net Bank Credit to Government 8463065 7424141 8446563 8556270 8473446
1 Net Bank Credit to Government (Including Merger) (8510825) (7489485) (8493151) (8602857) (8520033)
1.1 RBI’s net credit to Government (1.1.1–1.1.2) 1508105 1026142 1479315 1602562 1513361
1.1.1 Claims on Government 1591591 1355438 1839456 1804247 1806229
1.1.1.1 Central Government 1558903 1348151 1811974 1788285 1786164
1.1.1.2 State Governments 32688 7286 27482 15962 20066
1.1.2 Government deposits with RBI 83485 329296 360141 201685 292869
1.1.2.1 Central Government 83443 329254 360099 201643 292826
1.1.2.2 State Governments 42 42 42 42 42
1.2 Other Banks’ Credit to Government 6954959 6397999 6967248 6953707 6960086
1.2 Other Banks Credit to Government (Including Merger) (7002720) (6463344) (7013836) (7000295) (7006672)
2 Bank Credit to Commercial Sector 18646762 17148762 18690046 18715304 18888886
2 Bank Credit to Commercial Sector (Including Merger) (19068129) (17648993) (19089019) (19113760) (19283371)
2.1 RBI’s credit to commercial sector 38246 10922 14393 10263 9029
2.2 Other banks’ credit to commercial sector 18608516 17137840 18675653 18705041 18879856
2.2 Other banks credit to commercial sector (Including Merger) (19029883) (17638071) (19074626) (19103496) (19274342)
2.2.1 Bank credit by commercial banks 17822605 16385798 17888404 17915507 18091714
2.2.1 Bank credit by commercial banks (Including Merger) (18243972) (16886029) (18287377) (18313963) (18486200)
2.2.2 Bank credit by co-operative banks 766659 733421 768000 770519 769075
2.2.3 Investments by commercial and co-operative banks in other securities 19252 18621 19249 19014 19067
2.2.3 Investments by commercial and co-operative banks in other securities (Including Merger) (19252) (18621) (19249) (19014) (19067)
3 Net Foreign Exchange Assets of Banking Sector (3.1 + 3.2) 6148527 5653720 6350876 6449305 6437976
3.1 RBIs net foreign exchange assets (3.1.1 - 3.1.2) 5550947 5287013 5753296 5851725 5840396
3.1.1 Gross foreign assets 5550956 5287015 5753292 5851722 5840398
3.1.2 Foreign liabilities 9 2 -4 -4 2
3.2 Other banks’ net foreign exchange assets 597580 366707 597580 597580 597580
4 Government’s Currency Liabilities to the Public 36632 34065 37291 37291 37652
5 Banking Sector’s Net Non-monetary Liabilities 6067843 4558981 5589878 5915376 5660130
5 Banking Sectors Net Non-monetary Liabilities (Including Merger) (6477524) (5035160) (5980400) (6306639) (6048576)
5.1 Net non-monetary liabilities of RBI 2147427 1631829 2099222 2181690 2168644
5.2 Net non-monetary liabilities of other banks (residual) 3920417 2927152 3490656 3733686 3491487
5.2 Net non-monetary liabilities of other banks (residual) (Including Merger) (4330098) (3403331) (3881177) (4124949) (3879932)
M3(1+2+3+4–5) 27227143 25701708 27934898 27842794 28177829
M3 (1+2+3+4-5) (Including Merger) (27286589) (25791104) (27989937) (27896574) (28230456)
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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