RBI Weekly: M3 Falls 1.7%, Liquidity Injection

RBI reported total foreign exchange reserves at ₹6.58 trillion (≈$698 bn) as of 24 Apr 2026, up ₹28.5 bn YoY.
Money stock M3 declined 1.7% week‑on‑week to ₹31.47 trillion, driven by falls in demand and time deposits.
Net bank credit to government rose 2.7% week‑on‑week to ₹9.58 trillion, while credit to commercial sector fell 2.1% to ₹21.76 trillion.
RBI’s liquidity operations injected ₹313 billion via the Marginal Standing Facility on 25 Apr 2026, with total absorption of –₹313 bn.