Money stock (M1, M2, M3), its components and its sources, every reporting fortnight since 1951, with the series excluding the HDFC merger beside the plain ones, base RBI DBIE report 25
157 series, fortnightly, March 1951 to September 2026. Published by Reserve Bank of India (via DBIE).
What the file holds
Money stock (M1, M2, M3), its components and its sources, every reporting fortnight since 1951, with the series excluding the HDFC merger beside the plain ones.
RBI DBIE report 25 (data provider DP0), read from the local Data Bank mirror, as published. Amounts in ₹ crore. 357 cells the source prints more than once with different values (1956-03-23, 1962-03-30, 1965-03-26, 1968-03-22 and other dates) are left out: we cannot tell which value is right. Left out as printed in the wrong unit (57 values, e.g. 1.1.2 Government deposits with RBI on 2014-07-25; 1.1.2 Government deposits with RBI on 2014-08-22; 1.1.2 Government deposits with RBI on 2014-09-19).
Revisions: Section 42 figures are provisional, then final; sectoral credit is provisional and revised the next month; NPAs and capital ratios are final on release. Seams disclosed, never joined: the 2019 sectoral classification, the July 2023 HDFC merger, the December 2025 reporting calendar.
Missing values are left empty, never zero. Every series with its latest value and trend, in the guide to bank credit and money.
The series
| Series | Published values | Values |
|---|---|---|
| 'Other' deposits with RBI | November 1951 to September 2026 | 1,373 |
| 'Other' Deposits with RBI | April 1999 to July 2026 | 728 |
| 'Other' Deposits with Reserve Bank | March 1951 to September 2026 | 1,387 |
| 'Other' Deposits with the RBI | April 1999 to July 2026 | 730 |
| 1 Net Bank Credit to Government | March 1951 to September 2026 | 842 |
| 1.1.1 Claims on Government | January 2001 to July 2026 | 689 |
| 1.1.1.1 Central Government | March 1970 to July 2026 | 828 |
| 1.1.1.2 State Governments | March 1970 to July 2026 | 828 |
| 1.1.2 Government deposits with RBI | January 2001 to July 2026 | 674 |
| 1.1.2.1 Central Government | January 2001 to July 2026 | 670 |
| 1.1.2.2 State Governments | January 2001 to July 2026 | 688 |
| 2 Bank Credit to Commercial Sector | March 1951 to September 2026 | 842 |
| 2.2.1 Bank credit by commercial banks | January 2001 to July 2026 | 689 |
| 2.2.2 Bank credit by co-operative banks | January 2001 to July 2026 | 689 |
| 3.1.1 Gross foreign assets | January 2001 to July 2026 | 689 |
| 3.1.2 Foreign liabilities | January 2001 to July 2026 | 689 |
| 5.1 Net non-monetary liabilities of RBI | March 1951 to September 2026 | 842 |
| Aggregate Deposits of Residents | April 1999 to July 2026 | 725 |
| Aggregate Deposits of Residents (Excluding Merger) | April 1999 to June 2025 | 689 |
| Bank credit by commercial banks (Excluding Merger) | January 2001 to June 2025 | 662 |
| Bank Credit to Commercial Sector (Excluding Merger) | March 1951 to July 2025 | 813 |
| Bank Credit to the Commercial Sector | April 1999 to July 2026 | 702 |
| Bank Credit to the Commercial Sector (Excluding Merger) | April 1999 to June 2025 | 677 |
| Bankers' deposits with RBI | March 1951 to September 2026 | 1,383 |
| Bankers' Deposits with the RBI | February 1952 to July 2026 | 888 |
| Banking Sector's net Non-monetary Liabilities Other than Time Deposi | April 1970 to November 2012 | 788 |
| Banking Sectors Net Non-monetary Liabilities | March 1951 to September 2026 | 841 |
| Banking Sectors Net Non-monetary Liabilities (Excluding Merger) | March 1951 to June 2025 | 811 |
| Call/Term Funding from Financial Institutions | April 1999 to July 2026 | 724 |
| Cash on Hand with Banks | November 1951 to July 2026 | 1,383 |
| Central Government Securities | April 1999 to July 2026 | 730 |
| Certificates of Deposits (CDs) | April 1999 to July 2026 | 721 |
| Circulation of Rupee Coins | March 1994 to July 2026 | 873 |
| Circulation of Small Coins | March 1994 to July 2026 | 873 |
| Credit to the Commercial Sector by the Banking System | April 1999 to July 2026 | 661 |
| Credit to the Government by the Banking System | April 1999 to July 2026 | 671 |
| Currency in Circulation | February 1952 to July 2026 | 888 |
| Currency in circulation -Total | November 1951 to September 2026 | 1,382 |
| Currency with the public | March 1951 to September 2026 | 1,387 |
| Currency with the Public | April 1999 to July 2026 | 722 |
| Demand Deposits | April 1999 to July 2026 | 724 |
| Demand Deposits with Banks | March 1951 to September 2026 | 1,387 |
| Deposit Money of the Public | March 1951 to July 2026 | 1,384 |
| Deposits of the Central Government | April 1999 to July 2026 | 712 |
| Domestic Credit | April 1999 to July 2026 | 702 |
| Domestic Credit (Excluding Merger) | April 1999 to April 2026 | 696 |
| Foreign Currency Assets | April 1999 to July 2026 | 730 |
| Gold | April 1999 to July 2026 | 730 |
| Governments Currency Liabilities to the Public | March 1951 to September 2026 | 842 |
| Govt't currency liabilities to the public | April 1970 to September 2026 | 1,154 |
| Investments by commercial and co-operative banks in other securit | March 1994 to July 2012 | 494 |
| Investments by commercial and co-operative banks in other securities | January 2001 to July 2026 | 689 |
| Investments in dated Government Securities | April 1999 to July 2026 | 730 |
| Investments in Treasury Bills | April 1999 to August 2003 | 109 |
| Loans and Advances to NABARD | April 1999 to November 2022 | 631 |
| Loans and Advances to Primary Dealers | April 1999 to July 2026 | 728 |
| Loans and Advances to Scheduled Commercial Banks | April 1999 to July 2026 | 729 |
| Loans and Advances to the Central Government | April 1999 to April 2026 | 721 |
| Long-term Time Deposits | April 1999 to July 2026 | 724 |
| Long-term Time Deposits (Excluding Merger) | April 1999 to June 2025 | 689 |
| M2 | March 1994 to July 2026 | 874 |
| M3 (1+2+3+4-5) | January 2001 to July 2026 | 689 |
| M3 (1+2+3+4-5) (Excluding Merger) | January 2001 to June 2025 | 662 |
| M4 | March 1994 to July 2026 | 874 |
| M4 (Excluding Merger) | March 1994 to June 2025 | 847 |
| MSM.1.3) M1 | March 1951 to July 2026 | 1,384 |
| MSM.1.7) M3 | March 1951 to September 2026 | 1,387 |
| MSM.1.7) M3 (Excluding Merger) | March 1951 to June 2025 | 1,357 |
| MSU.1.1) M1 | April 1999 to July 2026 | 722 |
| MSU.1.4.2.2) Time Deposits of Residents | April 1999 to July 2026 | 725 |
| MSU.1.4.2.2) Time Deposits of Residents (Excluding Merger) | April 1999 to June 2025 | 689 |
| MSU.1.5.1.1.1) Net RBI credit to the Government | April 1999 to July 2026 | 728 |
| MSU.1.5.2) Government's Currency Liabilities to the Public | April 1999 to July 2026 | 724 |
| MSU.1.5.3.1) Net Foreign Exchange Assets of the RBI | April 1999 to July 2026 | 722 |
| MSU.1.5.4) Capital Account | April 1999 to July 2026 | 716 |
| Net Bank Credit to Government (Excluding Merger) | March 1951 to June 2025 | 812 |
| Net Bank Credit to the Government | April 1999 to July 2026 | 724 |
| Net Bank Credit to the Government (Excluding Merger) | April 1999 to June 2025 | 689 |
| Net Domestic Assets of RBI | April 1970 to November 2012 | 831 |
| Net Foreign Currency Assets of the Banking System | April 1999 to July 2026 | 724 |
| Net Foreign Exchange Assets of Banking Sector | April 1970 to November 2012 | 788 |
| Net Foreign Exchange Assets of Banking Sector (3.1 + 3.2) | March 1951 to September 2026 | 838 |
| Net foreign exchange assets of RBI | April 1970 to September 2026 | 1,155 |
| Net Foreign Exchange Assets of the Banking Sector | April 1999 to July 2026 | 722 |
| Net non-monetary liabilities of other banks (residual) | March 1951 to July 2026 | 839 |
| Net non-monetary liabilities of other banks (residual) (Excluding Merger) | March 1951 to June 2025 | 812 |
| Net non-monetary liabilities of other banks(residual) | April 1970 to July 2012 | 781 |
| Net RBI Credit to Central Government (1.1.1.1 - 1.1.2.1) | March 1970 to March 2025 | 56 |
| Net RBI credit to State Governments | April 1999 to July 2026 | 730 |
| Net RBI Credit to State Governments (1.1.1.2 - 1.1.2.2) | March 1970 to March 2025 | 56 |
| Net RBI credit to the Central Government | April 1999 to July 2026 | 730 |
| NM2 | April 1999 to July 2026 | 722 |
| NM2 (Excluding Merger) | April 1999 to June 2025 | 688 |
| NM3 | April 1999 to July 2026 | 722 |
| NM3 (Excluding Merger) | April 1999 to June 2025 | 688 |
| Notes in Circulation | March 1994 to July 2026 | 873 |
| o/w cash with banks | September 2000 to March 2004 | 90 |
| Other banks credit to commercial sector | March 1951 to September 2026 | 842 |
| Other banks credit to commercial sector (Excluding Merger) | March 1951 to June 2025 | 812 |
| Other Banks Credit to Government | March 1951 to September 2026 | 842 |
| Other Banks Credit to Government (Excluding Merger) | March 1951 to June 2025 | 812 |
| Other banks net foreign exchange assets | March 1951 to July 2026 | 839 |
| Other banks' credit to commercial sector | April 1970 to November 2012 | 788 |
| Other Banks' Credit to Government | April 1970 to November 2012 | 788 |
| Other banks' net foreign exchange assets | April 1970 to July 2012 | 781 |
| Other Investments ( Non-SLR Securities) | April 1999 to July 2026 | 716 |
| Other items (net) | April 1999 to July 2026 | 702 |
| Other Items (net) | April 1999 to July 2026 | 730 |
| Post Office Savings Deposits | March 1994 to July 2026 | 874 |
| RBI Credit to the Commercial Sector | April 1999 to July 2026 | 728 |
| RBI Survey - Components | April 1999 to March 2025 | 653 |
| RBI's Claims on - Central Govt | March 1994 to September 2026 | 769 |
| RBI's Claims on - Government (net) | October 1991 to September 2026 | 894 |
| RBI's claims on - NABARD | October 1991 to December 2008 | 422 |
| RBI's Claims on Banks | April 1999 to July 2026 | 730 |
| RBI's Claims on Banks (Including NABARD) | October 1991 to September 2026 | 894 |
| RBI's Claims on Banks and Commercial sector | October 1991 to September 2026 | 893 |
| RBI's Claims on Commercial and Co-Operative banks | October 1991 to July 2012 | 554 |
| RBI's claims on Commercial sector (Excluding NABARD) | April 1970 to September 2026 | 1,142 |
| RBI's credit to commercial sector | April 1970 to November 2012 | 788 |
| RBI's Credit to Commercial Sector | April 1999 to July 2026 | 730 |
| RBI's Domestic Credit | April 1999 to July 2026 | 730 |
| RBI's Net Claims on Banks | March 1971 to June 2026 | 824 |
| RBI's net credit to Government | March 1994 to November 2012 | 501 |
| RBI's net foreign exchange assets | April 1970 to July 2012 | 781 |
| RBIs credit to commercial sector | March 1951 to September 2026 | 842 |
| RBIs net credit to Government (1.1.1-1.1.2) | January 2001 to September 2026 | 692 |
| RBIs net foreign exchange assets (3.1.1 - 3.1.2) | March 1951 to July 2026 | 839 |
| RBIS.1.2.1.1) Net RBI credit to the Government | April 1999 to July 2026 | 730 |
| RBIS.1.2.2) Government's Currency Liabilities to the Public | April 1999 to July 2026 | 730 |
| RBIS.1.2.3) Net Foreign Exchange Assets of the RBI | April 1999 to July 2026 | 730 |
| RBIS.1.2.4) Capital Account | April 1999 to July 2026 | 730 |
| Reserve Money (Assets/Sources) | November 1951 to November 2012 | 1,053 |
| Reserve Money (Liabilities/Components) | March 1951 to September 2026 | 1,383 |
| RM2.4) Net non-monetary liabilities of RBI | April 1970 to September 2026 | 1,155 |
| Rupee Coins | April 1999 to July 2026 | 730 |
| Scheduled Commercial Banks | April 1999 to July 2026 | 730 |
| Short-term Time Deposits | April 1999 to July 2026 | 724 |
| Short-term Time Deposits (Excluding Merger) | April 1999 to June 2025 | 689 |
| SMS.1.1.1.1.1.1) Central Government | March 1994 to July 2012 | 494 |
| SMS.1.1.1.1.1.2) State Governments | March 1994 to July 2012 | 465 |
| SMS.1.1.1.1.1) Claims on Government | March 1994 to July 2012 | 494 |
| SMS.1.1.1.1.2.1) Central Government | March 1994 to July 2012 | 493 |
| SMS.1.1.1.1.2.2) State Governments | March 1994 to July 2012 | 491 |
| SMS.1.1.1.1.2) Government deposits with RBI | March 1994 to July 2012 | 494 |
| SMS.1.1.1) Net Bank Credit to Government | April 1970 to November 2012 | 788 |
| SMS.1.1.2.2.1) Bank credit by commercial banks | March 1994 to July 2012 | 494 |
| SMS.1.1.2.2.2) Bank credit by co-operative banks | March 1994 to July 2012 | 494 |
| SMS.1.1.2) Bank Credit to Commercial Sector | April 1970 to November 2012 | 788 |
| SMS.1.1.3.1.1) Gross foreign assets | March 1994 to July 2012 | 494 |
| SMS.1.1.3.1.2) Foreign liabilities | March 1994 to July 2012 | 484 |
| SMS.1.1.4) Government's Currency Liabilities to the Public | April 1970 to November 2012 | 788 |
| SMS.1.1.5.1) Net non-monetary liabilities of RBI | April 1970 to November 2012 | 788 |
| SMS.1.1) M3 | November 1951 to November 2012 | 1,005 |
| Time Deposits with Banks | March 1951 to September 2026 | 1,387 |
| Time Deposits with Banks (Excluding Merger) | March 1951 to June 2025 | 1,357 |
| Total Post Office Deposits | March 1994 to July 2026 | 874 |
Cite this data
Reserve Bank of India (via DBIE), compiled by Measure of India, “Money stock (M1, M2, M3), its components and its sources, every reporting fortnight since 1951, with the series excluding the HDFC merger beside the plain ones, base RBI DBIE report 25”, vintage 10 October 2026. measure.thisindianlife.today/data/credit-deep-money-stock-fortnightly/
The figures keep the terms of the agency that publishes them. Our compilation and layout are under CC BY 4.0.