Statsguru: RBI’s earnings from foreign currency assets rise significantly | Finance News

While the RBI’s income rose to Rs 2.76 trillion in the latest year, compared to Rs 2.35 trillion in the previous year, growth slowed to 17 per cent. Income grew by 47 per cent in the previous year, helped by gains from foreign exchange transactions.

Higher income has been accompanied by lower outgo. The central bank’s expenditure declined by 56.3 per cent to under Rs 1 trillion. Expenditure had touched Rs 1.5 trillion in the previous year on higher provisions which have since declined. Among other heads, the cost of printing notes was around Rs 5,000 crore. Employee cost went up by 31 per cent, exceeding Rs 7,800 crore due to accrued liabilities related to retirement benefit expenses.

The balance sheet grew by 11.08 per cent in 2023-24 compared to 2.5 per cent in the previous year. It has gone up by over 70 per cent since 2018-19.

At over Rs 2 trillion, the RBI transferred a higher surplus to the government for 2023-24 than the previous year, which is expected to boost government finances.