Money Supply (M3)
Latest reading: 16.7 % y-o-y for Fortnight ended 31 Aug 2026 (+2.5 pp fortnight-on-fortnight).
Money Supply (M3)
Broad money: currency with the public plus bank deposits and other deposits with the RBI. Rapid growth can signal liquidity build-up ahead of price pressure.
What it means
Broad money: currency with the public plus bank deposits and other deposits with the RBI. Rapid growth can signal liquidity build-up ahead of price pressure.
Jump from 14.2% to 16.7% in one fortnight is unusually large — verify against the RBI WSS Table 4 before publishing. M3 outstanding around Rs 3.32 crore crore (Rs 332 lakh crore). RBI WSS could not be opened directly. CHECK 25 Sep: RBI Weekly Statistical Supplement for this week is due today ~5 PM IST and was not out at run time (4:30 PM IST).
Release details
- Category
- MONETARY
- Frequency
- FORTNIGHTLY
- Previous
- 14.2
- Benchmark
- No official M3 target
- Released
- 2026-09-11
- Next release
- Expected: 2026-09-25
- Source
- RBI — Weekly Statistical Supplement (Money Stock)
Key questions about Money Supply (M3)
What is the current Money Supply (M3)?
Money Supply (M3) stands at 16.7 % y-o-y for Fortnight ended 31 Aug 2026, against 14.2 % y-o-y previously (+2.5 pp fortnight-on-fortnight). Broad money: currency with the public plus bank deposits and other deposits with the RBI. Rapid growth can signal liquidity build-up ahead of price pressure.
Who publishes the Money Supply (M3) data?
Money Supply (M3) is published by RBI — Weekly Statistical Supplement (Money Stock) on a fortnightly basis. Release window: Alternate Fridays with RBI WSS. The next update is expected on Expected: 2026-09-25.
What is a healthy level for Money Supply (M3)?
The reference benchmark used on MacroNest is: No official M3 target. The latest reading of 16.7 % y-o-y is currently assessed as "Rapid monetary expansion".
Why does Money Supply (M3) matter?
Monetary indicators set the price of money in the economy and flow through to deposit rates, floating-rate loan EMIs and bond yields. Broad money: currency with the public plus bank deposits and other deposits with the RBI. Rapid growth can signal liquidity build-up ahead of price pressure.