FX.co ★ India’s M3 Money Supply Growth Inches Down to 16.6% in September Reading

India’s broad money supply (M3) growth edged slightly lower to 16.6%, compared with the previous reading of 16.7%, according to data updated on 25 September 2026.

The marginal decline suggests overall liquidity in the Indian financial system remains elevated, with only a minor cooling in the pace of monetary expansion. While the change is small, markets and policymakers are likely to watch upcoming releases closely for signs of whether this marks the beginning of a gradual moderation in money growth or simply a temporary fluctuation around current high levels.