Money supply grows 16.9% in a year to ₹337.7 lakh crore
RBI released routine money supply data for the fortnight ended September 30, 2026. Broad money stood at about ₹337.7 lakh crore, up 16.9% over a year.
Official title: Money Supply for the fortnight ended on September 30, 2026 · Press Release 2026-2027/1313
What happened
Money supply (M3) counts all the money in the economy: cash held by people plus all bank deposits. RBI publishes it every fortnight. The release itself has no figures; RBI's weekly supplement for the same date gives the headline: M3 of ₹3,37,66,475 crore (about ₹337.7 lakh crore) on September 30, 2026, up 16.9% from a year earlier, compared with 9.6% growth a year ago.
Most of the growth came from fixed deposits, up 16.8%, and current and savings deposits, up 20.9%. Cash with the public rose 13.8%. On the other side, bank loans to businesses and households rose 18.8%, the main source of new money.
What it means for you
No direct effect. Fast money growth reflects strong bank lending. If it runs well ahead of the economy for long, it can add to price pressures.
What it means for businesses
Strong credit growth is creating new deposits, so banks have funds to keep lending.
Links in this release, explained
- Money supply data (Excel)
The Excel file with money supply and its components and sources for the fortnight ended September 30, 2026.
rbidocs.rbi.org.in/rdocs/content/docs/MS12102026.xlsx
Read the original
Press release on rbi.org.in ↗ Official PDF ↗
This explainer simplifies the official text. If anything here differs from the RBI's release, the release is right.