RBI’s balance sheet size is now 2.5 times bigger than Pakistan’s GDP

The Reserve Bank of India’s balance sheet rose 11.08 per cent reaching Rs. 70.48 lakh crore as of March 31, 2024, said the central bank in its annual report. The RBI’s balance sheet size at $844.76 is nearly 2.5 times that of Pakistan’s entire GDP which has been estimated to be around $338.24 billion by the International Monetary Fund (IMF).

In FY23, RBI’s balance sheet stood at Rs. 63.44 lakh crore. It has now increased to 24.1 per cent of India’s GDP at the end of March 2024. The central bank also shared that its income grew by 17.04 per cent in FY24 while expenditure decreased by 56.30 per cent.

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Speaking of the Indian economy, RBI stated that the outlook remains bright owning to sustained strengthening of macroeconomic fundamentals although, owning to recurring supply shocks, the bank also admitted vulnerability in food inflation, which is “preventing a quicker alignment or headline inflation with the target.”

The central bank has predicted a growth of 7 per cent in real GDP for FY25 and added that the economy is well placed to continue its growth trajectory over the next decade amid financial stability and macroeconomics.