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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 25, 2026
(₹ Crore)
Sources Outstanding as on March 31/last reporting Fortnights of the month/reporting Fortnights
2025-26 2025 2026
Jun. 27 May 31 Jun. 15 Jun. 30
1 2 3 4 5
1. Net Bank Credit to Government 9369275 8520033 9299369 9342692 9337375
1.1 RBI’s net credit to Government (1.1.1–1.1.2) 2079086 1513361 1933637 1944642 1923070
1.1.1 Claims on Government 2291566 1806229 2277725 2305566 2316226
1.1.1.1 Central Government 2259059 1786164 2263789 2280959 2297296
1.1.1.2 State Governments 32507 20066 13935 24607 18930
1.1.2 Government deposits with RBI 212480 292869 344088 360925 393155
1.1.2.1 Central Government 212436 292826 344045 360881 393112
1.1.2.2 State Governments 43 42 43 43 43
1.2 Other Banks’ Credit to Government 7290189 7006672 7365732 7398050 7414305
2. Bank Credit to Commercial Sector 22226641 19283371 22364603 22393423 22787011
2.1 RBI’s credit to commercial sector 28247 9029 15146 13557 19161
2.2 Other banks’ credit to commercial sector 22198394 19274342 22349458 22379867 22767850
2.2.1 Bank credit by commercial banks 21359948 18486200 21515402 21547116 21930398
2.2.2 Bank credit by co-operative banks 816115 769075 811106 810410 815328
2.2.3 Investments by commercial and co-operative banks in other securities 22330 19067 22949 22341 22123
3. Net Foreign Exchange Assets of Banking Sector (3.1 + 3.2) 7126272 6436658 7131682 6870362 6867703
3.1 RBI’s net foreign exchange assets (3.1.1 - 3.1.2) 6360229 5840396 6324987 6199262 6135282
3.1.1 Gross foreign assets 6360218 5840398 6324991 6199271 6135295
3.1.2 Foreign liabilities -12 2 4 9 13
3.2 Other banks’ net foreign exchange assets 766043 596262 806695 671100 732421
4. Government’s Currency Liabilities to the Public 40818 37652 41332 41511 41670
5. Banking Sector’s Net Non-monetary Liabilities 7309880 6047258 7474936 7427167 7140440
5.1 Net non-monetary liabilities of RBI 3065199 2168644 2889624 2793474 2733197
5.2 Net non-monetary liabilities of other banks (residual) 4244681 3878614 4585313 4633693 4407243
M3(1+2+3+4–5) 31453126 28230456 31362050 31220821 31893320
Note: 3.1: Include foreign currency denominated bonds issued by IIFC (UK).

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