RBI Annual Report I Decoding The Surplus - Lower MTM Loss Aids Higher RBI Surplus In FY24: Nirmal Bang

Nirmal Bang Report

The Reserve Bank of India surplus expanded by 141% to Rs 2,018.8 billion in FY24 from Rs 874.20 billion in FY23 on account of lower contingency provisions as mark-to-market losses on foreign and domestic securities moderated.

Income was up 17% while expenses declined by 56.3% on account of lower provision (down by 67.3%). Expenses (excluding provisions) were up by 27.5%.

Interest from foreign sources was up by 71.1%, supported by ~14% expansion in the foreign securities portfolio. Income from domestic sources was up by 3.2% mainly on account of lower net interest outgo under the liquidity adjustment facility operations. Other income declined by 5.9% on account of lower FX gains (down by 19.1%).

Total economic capital of the RBI stood at ~22.55% in FY24, which is within the range of 20-24.5% prescribed by the Bimal Jalan Committee.

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