RBI's balance sheet grows 2.5% to ₹63.45 lakh crore in FY23
The Hindu
The year ended with an overall surplus of ₹87,416.22 crore as against ₹30,307.45 crore in the previous year, resulting in an increase of 188.43%.
The size of the Reserve Bank's balance sheet increased by 2.5% for the year ended on March 31 to about ₹63.45 lakh crore on higher income, as per the Central bank's annual report released on May 30.
The balance sheet of the RBI plays a critical role in the functioning of the country's economy, largely reflecting the activities carried out in pursuance of its currency issue function as well as monetary policy and reserve management objectives.
"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 said.
While income for the year increased by 47.06%, the expenditure increased by 14.05%.
The year ended with an overall surplus of ₹87,416.22 crore as against ₹30,307.45 crore in the previous year, resulting in an increase of 188.43%.
The RBI transfers the surplus as dividend to the Central government.
"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 said.
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