FX.co ★ India’s M3 Money Supply Growth Cools to 10.9%, Signaling Slight Liquidity Moderation

India’s broad money supply (M3) growth eased to 10.9% from a previous reading of 12.0%, according to data updated on 27 February 2026. The slowdown points to a modest moderation in liquidity conditions in the economy.

The M3 measure, which captures currency in circulation and various bank deposits, is a key gauge of overall money availability. A lower growth rate compared with the prior period suggests that the pace of monetary expansion has weakened, which may influence credit dynamics, consumption, and investment trends going forward.

While the data alone do not indicate policy direction, the deceleration in M3 growth will likely be monitored closely by market participants and policymakers as they assess the balance between supporting economic activity and containing inflationary pressures.