India Forex Reserves, Bank Credit and RBI Liquidity Data

India’s forex reserves and RBI liquidity data showed strong changes across foreign exchange reserves, bank deposits, bank credit, money supply and liquidity operations in the latest Reserve Bank of India Weekly Statistical Supplement.

As of August 28, 2026, India’s total foreign exchange reserves stood at ₹7,066,658 crore, or US$740,803 million. Reserves increased by ₹85,328 crore, or US$11,475 million, during the week.

India Forex Reserves Reach ₹7,066,658 Crore

Foreign currency assets stood at ₹5,729,832 crore, or US$600,670 million, after increasing by ₹69,442 crore, or US$9,337 million, during the week.

Gold reserves were ₹1,110,438 crore, or US$116,409 million, with a weekly increase of ₹17,111 crore, or US$2,191 million.

SDR holdings stood at ₹179,428 crore, or US$18,810 million, declining by ₹1,031 crore, or US$43 million during the week. India’s reserve position in the IMF was ₹46,960 crore, or US$4,914 million, down by ₹193 crore, or US$11 million.

Compared with end-March 2026, total reserves increased by ₹512,797 crore, or US$49,696 million. Foreign currency assets rose by ₹492,465 crore, or US$48,387 million, while gold increased by ₹16,129 crore, or US$1,014 million.

SDRs increased by ₹2,839 crore, or US$188 million, while India’s reserve position in the IMF rose by ₹1,365 crore, or US$106 million compared with end-March.

On a year-on-year basis, total reserves increased by ₹941,303 crore, or US$46,574 million. Foreign currency assets rose by ₹577,465 crore, or US$16,733 million, gold increased by ₹344,835 crore, or US$29,641 million, SDRs rose by ₹13,763 crore, or US$34 million, and the IMF reserve position increased by ₹5,239 crore, or US$165 million.

Bank Deposits, Credit and Money Stock

Scheduled commercial banks’ aggregate deposits stood at ₹26,931,346 crore as of August 15, 2026, down ₹6,534 crore over the fortnight. Deposits increased by ₹70,259 crore during financial year 2026-27 so far and by ₹345,912 crore year-on-year, compared with an increase of ₹212,491 crore in 2025.

Aggregate deposit growth was 2.7% during financial year 2026-27 so far, compared with 3.9% in 2025. Year-on-year deposit growth stood at 14.7%, against 10.0% in 2025.

Demand deposits stood at ₹3,302,392 crore, falling by ₹12,978 crore during the fortnight. They increased by ₹148,677 crore in 2025-26, declined by ₹38,681 crore in 2026-27 so far, and rose by ₹43,216 crore in 2025 and ₹45,567 crore in 2026 on a year-on-year basis.

Time deposits stood at ₹23,628,953 crore, rising by ₹12,745 crore during the fortnight. They increased by ₹742,856 crore in 2025-26 and ₹108,940 crore in 2026-27 so far, while year-on-year increases were ₹171,025 crore in 2025 and ₹300,345 crore in 2026.

Borrowings stood at ₹891,863 crore, down ₹19,329 crore during the fortnight. Other demand and time liabilities stood at ₹1,162,706 crore, declining by ₹33,000 crore during the fortnight.

Bank credit stood at ₹22,007,764 crore, falling by ₹70,639 crore during the fortnight. Credit increased by ₹362,194 crore in 2025-26 and ₹647,867 crore in 2026-27 so far.

On a year-on-year basis, bank credit increased by ₹172,586 crore in 2025 and ₹340,197 crore in 2026. Credit growth was 3.0% during 2026-27 so far, compared with 2.0% in 2025-26, while year-on-year growth accelerated to 18.3% from 10.2%.

Food credit stood at ₹114,136 crore, declining by ₹3,694 crore during the fortnight. Non-food credit was ₹21,893,628 crore, down by ₹66,945 crore during the fortnight.

Broad money supply, or M3, stood at ₹3,229,503 crore on August 15, compared with ₹3,145,126 crore on March 31, 2026.

M3 increased by ₹16,690 crore, or 0.1%, over the fortnight. It rose by ₹1,002,119 crore, or 3.7%, in 2025-26 and by ₹84,377 crore, or 2.7%, in 2026-27 so far.

On a year-on-year basis, M3 increased by ₹2,479,106 crore, or 9.6%, in 2025 and by ₹400,579 crore, or 14.2%, in 2026.

Currency with the public stood at ₹420,715 crore, demand deposits with banks at ₹345,633 crore, time deposits with banks at ₹2,450,746 crore, and other deposits with the Reserve Bank at ₹12,363 crore.

RBI Liquidity Operations and Reverse Repo Auction

The RBI’s liquidity operations recorded net absorption on each day from August 24 to August 30, 2026.

Net absorption was ₹37,362 crore on August 24, ₹29,651 crore on August 25, ₹19,018 crore on August 26, ₹28,930 crore on August 27, ₹40,214 crore on August 28, ₹26,285 crore on August 29, and ₹25,813 crore on August 30.

Variable-rate reverse repo operations amounted to ₹41,186 crore on August 24, ₹9,851 crore on August 25, ₹14,262 crore on August 27, and ₹15,237 crore on August 28.

The Standing Deposit Facility stood at ₹230,750 crore, ₹197,130 crore, ₹191,115 crore, ₹149,083 crore, ₹249,945 crore, ₹263,990 crore and ₹259,918 crore respectively from August 24 to August 30.

The Marginal Standing Facility figures were ₹439 crore, ₹284 crore, ₹397 crore, ₹2,401 crore, ₹358 crore, ₹1,905 crore and ₹1,786 crore over the same period. Standing liquidity facilities showed -₹2,155 crore on August 24 and -₹989 crore on August 25.

The RBI is also set to conduct a ₹7 trillion ($74.1 billion), 30-day variable-rate reverse repo auction on Monday. The longer tenor follows recent operations of up to 15 days and will allow the central bank to keep excess cash parked for a longer period.

India’s banking system has a record ₹10.5 trillion of excess cash, according to a Bloomberg Economics index cited in the source material.

The RBI’s programme to attract foreign-currency deposits from overseas Indians brought in a record $127 billion. The central bank closed the window in August, a month ahead of schedule. Including subsidised overseas borrowing by banks and state-run companies, the measures brought in $136.4 billion.