The measurement of the Reserve Bank’s steadiness sheet elevated by 2.5% for the yr ended on March 31 to about ₹63.45 lakh crore on greater revenue, as per the Central financial institution’s annual report launched on May 30.
The steadiness sheet of the RBI performs a essential function within the functioning of the nation’s financial system, largely reflecting the actions carried out in pursuance of its foreign money difficulty operate in addition to financial coverage and reserve administration targets.
“The size of the balance sheet increased by ₹1,54,453.97 crore, i.e., 2.50% from ₹61,90,302.27 crore as on March 31, 2022 to ₹63,44,756.24 crore as on March 31, 2023,” the report mentioned.
While revenue for the yr elevated by 47.06%, the expenditure elevated by 14.05%.
The yr ended with an total surplus of ₹87,416.22 crore as towards ₹30,307.45 crore within the earlier yr, leading to a rise of 188.43%.
The RBI transfers the excess as dividend to the Central authorities.
“The increase on the asset side was due to rise in foreign investments, gold, and loans and advances by 2.31%, 15.30% and 38.33%, respectively,” the RBI mentioned.
On the legal responsibility facet, the growth was resulting from enhance in notes issued, revaluation accounts and different liabilities by 7.81%, 20.50% and 79.07%, respectively.
RBI additional mentioned home belongings constituted 27.69% whereas the overseas foreign money belongings and gold (together with gold deposit and gold held in India) constituted 72.31% of whole belongings as on March 31, 2023 as towards 28.22% and 71.78%, respectively, as on March 31, 2022.
A provision of about ₹1.31 lakh crore was made and transferred to Contingency Fund (CF). No provision was made in direction of Asset Development Fund (ADF).
The Central financial institution spent ₹4,682.80 crore on printing of foreign money notes throughout 2022-23, marginally decrease than ₹4,984.80 crore within the previous yr.
As on March 31, 2023, whole gold held by the Reserve Bank was 794.63 metric tonnes as in comparison with 760.42 metric tonnes as on March 31, 2022.
The enhance, the RBI mentioned, is on account of addition of 34.21 metric tonnes of gold in the course of the yr.
The worth of gold (together with gold deposit) held as asset of Banking Department elevated by 17.20% from ₹1,96,864.38 crore as on March 31, 2022 to ₹2,30,733.95 crore as on March 31, 2023, the RBI mentioned.
Source: www.thehindu.com