FX.co ★ India’s M3 Money Supply Growth Accelerates to 16.5% in Latest Release

India’s broad money supply (M3) growth edged higher to 16.5%, up from the previous reading of 16.0%, according to data updated on 11 November 2026.

The increase in M3, which reflects the total stock of money in circulation and in bank deposits, points to a further expansion in liquidity within the Indian financial system. The latest uptick suggests that monetary conditions remain accommodative, with money supply growth continuing on an upward trajectory compared with the earlier period.

The 0.5 percentage point rise in the M3 growth rate will be closely watched by market participants and policymakers as they assess the balance between supporting economic activity and monitoring potential inflationary pressures linked to sustained high money supply growth.