Money Supply M3 (y/y) in India

Banco de la Reserva de India · Fortnightly · Importance 50

14.7% (Jul-26) YOY · % · Quincenal · CSV

Period	%
Jul 2026	14.7%
Jul 2026	12.5%

About this indicator

Source	Reserve Bank of India (RBI)
Frequency	Fortnightly
Release	Quincenal, 17:00 IST (13:30 CEST), dentro del Weekly Statistical Supplement
What it is	M3 is India's broad money aggregate: currency held by the public plus the demand and time deposits of the banking system. The Reserve Bank of India (RBI) monitors it as a benchmark for monetary conditions.
How it's calculated	It is compiled by the RBI from its weekly balance sheets and the fortnightly returns of commercial banks, and published in the Weekly Statistical Supplement. The year-on-year rate compares the stock with the same period a year earlier.
Market implications	Growth in M3 and credit anticipates the demand pressure that the RBI's Monetary Policy Committee watches. A faster-than-expected acceleration points to greater inflationary pressure and can firm up rate expectations; a slowdown suggests looser conditions and room to ease policy.
Limitations	It is a provisional figure that is revised in later releases. Its link with inflation is indirect and lagged, and the swings may reflect base effects or one-off deposit movements rather than an underlying shift in demand.