RBI to bring out weekly data on Reserve Money

With the purpose of providing quick information to the public and concerned stakeholders, the Reserve Bank of India (RBI) will henceforth come out with weekly and forthnighty data on Reserve Money and Money Supply. These data were earlier being released first through the Weekly Statistical Supplement on Fridays."With a view to providing quicker information, the RBI has has decided to disseminate the data relating to Reserve Money on every Wednesday and data relating to Money Supply [M3] on every alternate Wednesday, or the following working day in case of a holiday, through a press release. Reserve Money is the sum total of the currency in circulation along with bankers' deposits with the RBI and other deposits with the apex bank. The M3 is considered as the broadest measure of money and is used by economists to estimate the entire supply of money within an economy. RBI's latest announcement comes following its decision to release monthly details of outbound Foreign Direct Investments from June. The central banks already released a number of data on credit, deposit, auctions, liquidity adjustment facility and other financial matters on regular basis.