RBI Reports 10.8% Growth in Currency Circulation; Reserve Money Up 4.7%

The Reserve Bank of India (RBI) has released its latest monetary data, showing a sharp rise in currency circulation and reserve money for the fortnight ending February 15, 2026.

Currency in circulation grew 10.8% year-on-year, significantly higher than the 5.6% growth recorded in the same period last year. The total currency in circulation increased by ₹435.77 billion, reaching ₹40.45 trillion.

Meanwhile, reserve money expanded 4.7% year-on-year, compared to 4.5% growth a year ago, indicating steady liquidity conditions in the financial system. Analysts attribute the rise to seasonal demand, robust economic activity, and continued reliance on cash in certain sectors despite digital payment growth.

Key Highlights:

• Currency Growth: Circulation up 10.8% YoY vs. 5.6% last year.
• Total Value: Currency in circulation rose ₹435.77 billion to ₹40.45 trillion.
• Reserve Money: Increased 4.7% YoY vs. 4.5% last year.
• Liquidity Trends: Reflects strong demand and stable monetary conditions.
• Economic Context: Growth supported by consumption and seasonal cash usage.

This data underscores India’s evolving monetary landscape, balancing cash demand with digital adoption, while maintaining overall financial stability.

Sources: RBI Bulletin, Business Standard, MoneyControl