RBI balance sheet increases 12.3% in 2015-16

The Dollar Business Bureau 

The Reserve Bank of India (RBI) said on Tuesday that the bank’s balance sheet has surged to Rs.32,43,011 crore, an increase of 12.3 percent, for the year closed on June 30.

During the same period a year earlier, the balance sheet of central bank’s stood at Rs.28,89,152 crore.

“The increase on the asset side was due to an increase in foreign investments and domestic investments by 7.98 per cent and 35.64 percent, respectively, and on the liability side due to increase in notes in circulation and other liabilities and provisions by 15.92 per cent and 14.77 percent, respectively,” the Reserve Bank said in its annual report for the year 2015-16.

During the given period, the assets in foreign currency and gold (consisting of gold held in the country) constituted 75.41 percent whereas the domestic assets made up 24.59 percent of the overall assets, compared to 78.14 percent and 21.86 percent, respectively, as of June 30.

Though the income for 2015-16 year improved slightly by 2.04 percent, but the expenditure surged by 12.23 percent mainly due to the provision created for service tax reimbursement on agency commission payable to agency banks, it said.

The Reserve Bank transferred a total surplus of Rs.65,876 crore during the period compared to Rs 65,896 crore in the year 2014-15, highlighting a marginal drop of 0.03 percent.

No amount has been transferred to the Contingency Fund (CF), by the Bank.

A provision was made of Rs.1,000 crore for contributing extra capital to Bharatiya Reserve Bank Note Mudran and to transfer to the Asset Development Fund.