The size of the Reserve Bank of India (RBI) balance sheet increased by 2.5% for the year ended 31 March 2023. While their income for the year increased by 47.06% to ₹2.35 lakh crore, expenses increased by 14.05% to ₹1.48 lakh crore.
The year ended with a total surplus of ₹87,416.22 crore compared to ₹30,307.45 crore in the previous year, an increase of 188.43%. However, the surplus in FY21 was ₹99,122 crore; ₹57,127.53 crore in FY20; and ₹1,75,987.73 crore in fiscal year 2019.
RBI’s annual report released today shows that total assets increased by ₹1,54,453.97 crore or 2.5% from ₹61,90,302.27 crore on 31 March 2022 to ₹63,44,756.24 crore on 31 March 2022 March 31, 2023.
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The increase on the asset side was due to increases in foreign investment, gold and credit and lending by 2.31%, 15.30% and 38.33% respectively.
On the liability side, the expansion was due to increases in debt securities issued, revaluation accounts and other payables of 7.81%, 20.50% and 79.07%, respectively.
Domestic assets accounted for 27.69%, while foreign currency assets and gold (including gold deposits and gold held in India) accounted for 72.31% of total assets as of March 31, 2023, versus 28.22% and 71.78%, respectively March 31, 2023. 2022.
RBI data shows that a provision of ₹1,30,875.75 crore was created and transferred to the Contingency Fund (CF). “No provisions have been made for the Asset Development Fund (ADF).”
The RBI Board had this month approved the transfer of ₹87,416 crore as a surplus to the central government for fiscal year 2022-23. The central bank also decided to increase the emergency risk buffer to 6% from the previous 5.5%.
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The Reserve Bank’s (RBI) balance sheet plays a critical role in the functioning of the country’s economy and largely reflects the activities undertaken as part of its currency issuance function and the objectives of monetary policy and reserve management.
Apex Bank today released its annual report for the 2022-23 financial year, stating that global growth is expected to slow in 2023 and may remain subdued in the medium term.
“Globally, inflation efforts are expected to bring headline inflation down from 7.3 percent to 4.7 percent in developed and developing countries in 2023 and from 9.8 percent to 8.6 percent in emerging and developing countries,” says the RBI.
It is said that several “shocks” have tested the resilience of the Indian economy in 2022-23. Buoyed by sound macroeconomic policies and other favorable economic factors, India’s growth momentum is likely to continue in 2023-2024 in an atmosphere of “easing inflationary pressures”.
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