FX.co ★ India’s M3 Money Supply Growth Eases to 10.7%, Signalling Gradual Cooling in Liquidity

India’s broad money supply (M3) growth moderated to 10.7%, down from the previous reading of 11.5%, according to the latest data updated on 25 March 2026. The slowdown suggests a measured cooling in overall liquidity conditions in the economy.

M3 money supply, which includes currency in circulation, demand deposits, and time deposits, is a key gauge of systemic liquidity and a leading indicator for trends in inflation and credit growth. The deceleration from 11.5% to 10.7% may reflect tighter financial conditions or more cautious credit expansion, and will likely be watched closely by markets and policymakers for signals on the future monetary policy stance.