Document title: Reserve Bank of India – Bulletin Weekly Statistical Supplement – Extract
Issuing authority: Reserve Bank of India
Reference number: Press Release: 2026-2027/644
Date: 10 July 2026
Macro Outlook
The RBI’s weekly statistical supplement indicates that money stock M3 rose to ₹31,453,126 crore as of 31 Mar 2026 and further to ₹31,887,695 crore by 30 Jun 2026, a fortnightly increase of 666,958 crore (2.1%). Year‑on‑year, M3 expanded by 13.0% to ₹36,572,40 crore in 2026, up from ₹24,393,51 crore in 2025. The growth was driven primarily by time deposits with banks, which increased by 1.5% fortnightly and 12.7% YoY, reaching ₹23,875,417 crore on 30 Jun 2026. Currency with the public and demand deposits with banks also posted notable increases.
Policy Rates and Liquidity
Liquidity operations for the week ending 5 July 2026 show variable‑rate repo absorption of 29,695 crore on 1 Jul, 0 on subsequent days, while the Marginal Standing Facility (MSF) and Standing Deposit Facility (SDF) were utilized heavily. Net absorption (sum of repo, variable‑rate repo, MSF, liquidity facilities, purchase minus reverse repo, variable‑rate reverse repo, SDF, sale) was negative throughout, reaching a peak net outflow of ₹179,583 crore on 4 Jul 2026 and ₹189,279 crore on 5 Jul 2026, indicating tightening liquidity conditions.
Banking and Credit
Aggregate deposits (liabilities to others) stood at ₹26,538,493 crore as of 30 Jun 2026, up 696,888 crore (2.7%) over the fortnight and 13.3% YoY. Demand deposits amounted to ₹3,535,579 crore, while time deposits were ₹23,002,915 crore. Borrowings were ₹840,443 crore and other demand and time liabilities ₹1,186,944 crore. Bank credit expanded to ₹21,928,365 crore, a fortnightly rise of 381,249 crore (1.8%) and an 18.6% YoY increase, with non‑food credit accounting for ₹21,796,315 crore of the total. Food credit stood at ₹132,049 crore. Loans and advances to state governments were ₹30,956 crore on 4 Jul 2026.
Regulatory and Policy Measures
The Banking Laws (Amendment) Act, 2025 revised the definition of a fortnight from alternate Fridays to the 15th and last calendar day of each month, effective 15 Dec 2025. All data presented include the impact of the merger of a non‑bank with a bank effective 1 Jul 2023 (and another merger effective 14 Jul 2023 for the money‑stock tables).
The bulletin provides a comprehensive snapshot of the RBI’s balance‑sheet dynamics, liquidity operations, and credit growth, underscoring continued expansion in deposits and credit alongside active liquidity management.