Broad money — commonly measured as M3 in India — is a comprehensive measure of the total money supply in an economy that includes not just physical currency (notes and coins) and demand deposits (narrow money or M1) but also time deposits, savings deposits, and other near-money instruments held by the public with banks and financial institutions. Broad money is a key macroeconomic indicator monitored by the Reserve Bank of India (RBI) as part of its monetary policy framework, providing insight into liquidity conditions, credit growth, and inflationary pressures in the economy. For traders and investors on Ventura Securities, trends in broad money growth can signal shifts in monetary policy, interest rate direction, and overall financial market liquidity that influence equity and debt market performance.
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