India - Broad money growth (annual %)

The value for Broad money growth (annual %) in India was 12.48 as of 2020. As the graph below shows, over the past 59 years this indicator reached a maximum value of 24.49 in 1976 and a minimum value of 3.21 in 1961.

Definition: Broad money (IFS line 35L..ZK) is the sum of currency outside banks; demand deposits other than those of the central government; the time, savings, and foreign currency deposits of resident sectors other than the central government; bank and traveler’s checks; and other securities such as certificates of deposit and commercial paper.

Source: International Monetary Fund, International Financial Statistics and data files.

See also:

Year Value
1961 3.21
1962 9.61
1963 10.58
1964 9.41
1965 10.89
1966 11.21
1967 9.36
1968 9.52
1969 13.52
1970 12.03
1971 17.06
1972 15.39
1973 19.50
1974 12.23
1975 14.05
1976 24.49
1977 19.16
1978 21.15
1979 17.71
1980 15.90
1981 17.45
1982 17.20
1983 16.89
1984 17.98
1985 16.88
1986 17.93
1987 16.32
1988 18.29
1989 15.73
1990 15.07
1991 18.32
1992 16.86
1993 17.01
1994 20.28
1995 11.01
1996 18.74
1997 17.66
1998 18.17
1999 17.15
2000 15.17
2001 14.32
2002 16.76
2003 13.03
2004 16.73
2005 15.60
2006 21.63
2007 22.27
2008 20.50
2009 18.00
2010 17.80
2011 16.14
2012 11.05
2013 14.83
2014 10.59
2015 10.62
2016 6.80
2017 10.43
2018 10.52
2019 10.51
2020 12.48

Limitations and Exceptions: Monetary accounts are derived from the balance sheets of financial institutions - the central bank, commercial banks, and nonbank financial intermediaries. Although these balance sheets are usually reliable, they are subject to errors of classification, valuation, and timing and to differences in accounting practices. For example, whether interest income is recorded on an accrual or a cash basis can make a substantial difference, as can the treatment of nonperforming assets. Valuation errors typically arise for foreign exchange transactions, particularly in countries with flexible exchange rates or in countries that have undergone currency devaluation during the reporting period. The valuation of financial derivatives and the net liabilities of the banking system can also be difficult. The quality of commercial bank reporting also may be adversely affected by delays in reports from bank branches, especially in countries where branch accounts are not computerized. Thus the data in the balance sheets of commercial banks may be based on preliminary estimates subject to constant revision. This problem is likely to be even more serious for nonbank financial intermediaries.

Statistical Concept and Methodology: Money and the financial accounts that record the supply of money lie at the heart of a country’s financial system. There are several commonly used definitions of the money supply. The narrowest, M1, encompasses currency held by the public and demand deposits with banks. M2 includes M1 plus time and savings deposits with banks that require prior notice for withdrawal. M3 includes M2 as well as various money market instruments, such as certificates of deposit issued by banks, bank deposits denominated in foreign currency, and deposits with financial institutions other than banks. However defined, money is a liability of the banking system, distinguished from other bank liabilities by the special role it plays as a medium of exchange, a unit of account, and a store of value.

Periodicity: Annual

Classification

Topic: Financial Sector Indicators

Sub-Topic: Monetary holdings (liabilities)