Economy

RBI balance sheet grew 7% in 9 months to March

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India, in this February 2, 2016 file photo.

The Reserve Bank of India (RBI) seal is pictured on a gate outside the RBI headquarters in Mumbai, India, in this February 2, 2016 file photo.

The size of the Reserve Bank’s balance sheet, which is reflective of activities carried out by it in pursuance of currency issue function as well as monetary policy and reserve management, has increased by 6.99% to ₹57,07,669.13 crore during the nine-month period ended March 31.

“The increase on the asset side was mainly due to increase in foreign and domestic investments by 11.48% and 13.75%, respectively,” it said in the Annual Report for FY21.

On liabilities, the increase was due to growth in deposits, notes issued and other liabilities.

While income for the year decreased 10.96%, expenditure declined 63.1%,

The year ended with an overall surplus of ₹99,122 crore compared with ₹57,127.53 crore in the previous year, representing an increase of 73.5%, it added.

Shift to April-March year

On account of the transition to April-March accounting year from July-June accounting period, the reserve bank has come out with data for nine months for 2020-21 as compared to twelve months for the previous year.

Earlier this month, the Central Board of Directors of RBI had approved the transfer of the ₹99,122 crore surplus to the Centre.


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Printable version | Jul 5, 2022 1:07:13 am | https://www.thehindu.com/business/Economy/rbi-balance-sheet-grew-7-in-9-months-to-march/article34661305.ece