India’s foreign exchange reserves climbed to $676.2 billion as on July 17, 2026, according to the latest RBI Weekly Statistical Supplement. The week-on-week gain stood at $1.08 billion. However, reserves have fallen by $19.25 billion compared to the same period last year.
Foreign Exchange Reserves: Key Details
Foreign currency assets — the largest component — rose by $4.55 billion during the week to reach $551.06 billion. Meanwhile, gold reserves declined by $3.48 billion to $101.75 billion. SDRs and the IMF reserve position remained broadly stable, adding minor positive contributions to the overall total.
Additionally, the RBI’s liquidity operations show the central bank is actively absorbing surplus funds. Net daily absorption ranged between ₹80,972 crore and ₹1,64,025 crore during July 13–19, 2026. Therefore, system liquidity remains comfortably in surplus mode.
Bank Deposits and Credit Growth
Scheduled commercial banks reported aggregate deposits of ₹26,28,4574 crore as on July 15, 2026. Year-on-year, deposits grew 12.7 percent — a strong uptick. However, the latest fortnight saw deposits dip by ₹2,59,710 crore, reflecting seasonal variation.
Bank credit stood at ₹21,73,3383 crore. Year-on-year credit growth reached 17.7 percent, driven largely by non-food credit. As a result, overall credit expansion continues to outpace deposit growth on an annual basis. Non-food credit alone grew by over ₹32 lakh crore year-on-year.
For example, financial-year-so-far credit growth already stands at 1.7 percent, compared to 1.2 percent in the same period of 2025-26. This signals resilient loan demand across the banking system.
Money Supply and RBI Lending to States
Broad money supply (M3) stood at ₹31,64,6426 crore as on July 15, 2026, reflecting year-on-year growth of 12.5 percent. Currency with the public rose 13 percent year-on-year to ₹4,21,2008 crore. Additionally, time deposits with banks expanded 12.2 percent over the same period.
On the lending side, the RBI’s advances to state governments totalled ₹20,629 crore for the week ending July 17, 2026. This is a ₹550 crore rise over the previous week. However, it remains ₹5,666 crore lower than the corresponding week a year ago.
Overall, these figures confirm that India’s banking sector stays on a firm growth path, even as the RBI carefully manages liquidity conditions.
Source: RBI Press Releases
