India's Sept 20 money supply up 12.5pc y/y

MUMBAI: India's M3 money supply rose an annualised 12.5 percent in the two weeks to Sept. 20, slower than 13.6 percent a year earlier, the Reserve Bank of India said on Tuesday.

Money supply was 87.95 trillion rupees ($1.4 trillion) as of Sept. 20, compared with 88.36 trillion rupees on Sept. 6, the central bank data showed.

The central bank said year-on-year reserve money rose 6.1 percent in the week to Sept. 27, from 4.4 percent a year earlier.

It also said currency in circulation rose 9.7 percent year-on-year in the week to Sept. 27, compared with 12.3 percent a year earlier.