RBI’s income rise
The Reserve Bank of India (RBI) reported a 17% increase in FY24 income to ₹2,75,572.32 crore. Expenditure shrank 56.3% to ₹64,694.33 crore, from ₹1,48,037.04 crore in FY23
The sharp drop in spending helped the RBI end the year with a transferable surplus of ₹2,10,873.99 crore, as against ₹87,416.22 crore in the previous year.
Gains from foreign exchange transactions amounted to ₹83,615.86 crore, while interest income from foreign securities rose to ₹65,327.93 crore
Reasons
The increase on asset side was due to rise in foreigninvestments, gold, and loans and advances by 13.9%, 18.26% and 30.05%, respectively
Domesticassets constituted 23.31% while foreign currency assets, gold (including gold depositand gold held in India) and loans and advances to financial institutions outside India constituted 76.69% of total assets in FY24 as against 26.08% and 73.92%, respectively in FY23
COMMENTS