FX.co ★ India’s M3 Money Supply Growth Holds Steady at 12.0%, Signalling Policy Continuity

India’s broad money supply (M3) growth held unchanged at 12.0% in the latest reading, according to data updated on 29 May 2026. The figure matches the previous rate of 12.0%, indicating stable monetary conditions in the world’s fifth‑largest economy.

M3, which includes currency in circulation, demand deposits, and time deposits, is a closely watched gauge of liquidity in the financial system. The steady pace of expansion suggests that underlying credit and deposit trends remain broadly consistent with recent months, reducing immediate pressure for an abrupt shift in the policy stance.

With money supply growth neither accelerating nor slowing, markets are likely to interpret the data as supportive of continuity from policymakers, who must balance the need to sustain economic activity against the risk of stoking inflationary pressures. Investors and analysts will be watching subsequent releases for signs of any emerging trend away from the current 12.0% trajectory.