RBI data reveals a 16.9% expansion in M3 money stock and an 18.8% rise in commercial bank credit, even as foreign exchange reserves saw a weekly decline of $8.5 billion.
RBI's weekly statistical supplement reports a decline in gold reserves, but this is a central bank balance sheet item with no direct gold price signal.
The Reserve Bank of India's latest statistical supplement shows M3 money stock growth reaching 16.9% year-on-year as of September 2026. Meanwhile, bank credit to the commercial sector surged by 18.8% over the same period, reflecting robust liquidity and lending activity within the Indian banking system.
The data shows significant expansion in both money supply and credit, with commercial bank credit growing at 18.8% year-on-year, indicating active lending and liquidity circulation in the Indian economy.