RBI Annual Report
The RBI’s Annual Report details the apex lender’s working and operations between July-June every year. One of the recommendations of Bimal Jalan committee report is that the central bank should align its accounting year to the Arpil-March fiscal year for better understanding.
- The Reserve Bank of India’s (RBI) balance sheet expanded by 42 percent to Rs 41.03 lakh crore while its income soared by 146.59 percent to Rs 1.93 lakh crore in 2018-19.
- The apex bank’s interest income grew 62 percent to Rs 1.06 lakh crore and other income rose to Rs 86,199 crore as on June 30, 2019, from Rs 4,410 crore a year ago.
- The RBI’s holding of government securities grew by 19 percent, from Rs 6.29 lakh crore to Rs 9.89 lakh crore as on June 30, 2019. “The increase was on account of liquidity management operations conducted by way of net purchase of government securities amounting to Rs 3.31 lakh crore.
- RBI’s foreign exchange gains rose to Rs 28,998 crore, as compared to a loss of Rs 4,067 crore in the previous year.
- The balance in contingency fund as on June 30, 2019 was Rs 1.96 lakh crore as compared to Rs 2.32 lakh crore as on June 30, 2018.
- The transferable surplus to the government for the year 2018-19 came to Rs 1.76 lakh crore, based on adjustments made after the Economic Capital Framework (ECF) was adopted by the bank’s central board earlier this week. The new framework was part of the Bimal Jalan committee recommendations.
- These factors contributed to unusually high surplus transfer this year. Over the past four years, the surplus ranged between Rs 30,000-65,000 crore.
- The RBI total assets constituted of 03 percent of domestic assets and 71.97 percent of foreign currency and gold as of June 30, 2019. The share of domestic assets was 23.18 percent, while foreign currency and gold were at 76.82 percent a year ago.
- RBI held 16 metric tonnes of gold as compared to 566.23 metric tonnes as on June 30, 2018. The increase is on account of addition of 51.93 metric tonnes of gold during the year.
- The RBI’s expenditure fell by 39.72 percent to Rs 17,045 crore in 2018-19. This includes a provision of Rs 64 crore was made towards Asset Development Fund.
- The notes issued in 2018-19 increased by 13.43 percent from Rs 19.11 lakh crore as on June 30, 2018 to Rs 21.68 lakh crore as on June 30, 2019.
- According to RBI annual report, there is a decline of 31.4 percent in counterfeit notes seized over the year, with nearly 60 percent reduction in Rs 500 and Rs 10,00 notes. But there was an increase of 35 percent in counterfeit notes detected in the denomination of Rs 100 and a noticeable increase of 154.3 percent in Rs 50.
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