Reserve money up 10 per cent at Rs 15.65 lakh crore: RBI

The Reserve Bank of India (RBI) said on Thursday the reserve money for the week ended October 11 stood at Rs 15.65 lakh crore, posting a year-on-year growth of 10 per cent.

Reserve money for the week ended October 4 stood at Rs 15.415 lakh crore.

Reserve money refers to the portion of commercial banks' reserves that are maintained with the RBI plus the total currency in circulation. It is also referred to as base money and high-powered money, among other names.

The RBI also released the M3 data, which is a broad measure of money supply, which for the fortnight ended October 4 stood at Rs 89.75 trillion, a jump of 13.2 per cent year-on-year basis.

In the previous fortnight ended September 20, M3 was at Rs 87.95 lakh crore.

The apex bank releases data on reserve money on a weekly basis while money supply data is released every fortnight.

In the current fiscal year so far, M3 rose by Rs 5.93 lakh crore, a growth of 7.1 per cent, while the reserve money increased by Rs 50,080 crore, up 3.3 per cent. The RBI had projected M3 growth of 13 per cent year-on-year.