MUMBAI: 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 8.46 per cent during 2021-22, the annual report data showed.
While income for the year increased by 20.14 per cent, expenditure rose by 280.13 per cent, RBI said in its annual report 2021-22 released on Friday. The year 2021-22 ended with an overall surplus of Rs 30,307.45 crore as against Rs 99,122 crore in the previous year, resulting in its decrease of 69.42 per cent.
Last week, the central board of directors of RBI had approved transfer of Rs 30,307.45 crore surplus to the government.
"The size of the balance sheet increased by Rs 4,82,633.14 crore, i.e, 8.46 per cent from Rs 57,07,669.13 crore as on March 31, 2021 to Rs 61,90,302.27 crore as on March 31, 2022. The increase on the asset side was due to rise in foreign investments, domestic investments, gold, and loans and advances by 4.28 per cent, 11.67 per cent, 30.07 per cent and 54.53 per cent, respectively," said the report.
On the liability side, the increase was due to rise in deposits and notes by 16.24 per cent and 9.86 per cent, respectively.
RBI said that the domestic assets constituted 28.22 per cent while the foreign currency assets and gold (including gold deposit and gold held in India) constituted 71.78 per cent of total assets as on March 31, 2022 as against 26.42 per cent and 73.58 per cent, respectively, as on March 31, 2021. "Provisions of Rs 1,14,567.01 crore and Rs 100 crore were made and transferred to Contingency Fund (CF) and Asset Development Fund (ADF), respectively," RBI said.
On gold holdings, it said as on March 31, 2022, total gold held by the Reserve Bank was 760.42 metric tonnes as compared to 695.31 metric tonnes as on March 31, 2021. "The increase is on account of addition of 65.11 metric tonnes of gold during the year," he said.
RBI said the value of gold (including gold deposit) held as asset of banking department increased by 37.11 per cent from Rs 1,43,582.87 crore as on March 31, 2021 to Rs 1,96,864.38 crore as on March 31, 2022.
This increase is on account of addition of 61.59 metric tonnes of gold and also due to increase in the price of gold and depreciation of INR vis-à-vis USD, said the report. On the expenditure side, the total expenditure of the Reserve Bank increased by 280.13 per cent from Rs 34,146.75 crore in FY21 to Rs 1,29,800.68 crore in FY22, it said.
However, its total employee cost during the year decreased by 19.19 per cent to Rs 3,869.43 crore from Rs 4,788.03 crore in the previous fiscal. The decrease was due to decrease in Reserve Bank's expenditure towards accrued liabilities of various superannuation funds in 2021-22, RBI added.