RBI balance sheet grows 8.2% to ₹76.25 trillion in FY25, surplus up 27%

RBI's balance sheet grew to ₹76.25 trillion in FY25 with a record ₹2.69 trillion surplus and higher gold, domestic and foreign investments; gold holding rose 57.48 tonnes

The Reserve Bank of India’s (RBI’s) balance sheet increased 8.2 per cent in the financial year 2024–25 to ₹76.25 trillion, from ₹70.47 trillion in the previous year, compared with an 11 per cent increase in FY24.

 

While income for the year rose by 22.77 per cent, expenditure increased by 7.76 per cent. The year ended with an overall surplus of ₹2.69 trillion, compared to ₹2.11 trillion in the previous year—an increase of 27.37 per cent. The RBI will transfer a record surplus to the government even after maintaining a 7.5 per cent contingent risk buffer, which is at the upper end of the prescribed range.

 

“An increase on the assets side was due to a rise in gold, domestic investments and foreign investments by 52.09 per cent, 14.32 per cent and 1.70 per cent, respectively,” the RBI said in its annual report released on Thursday.

 

On the liabilities side, the expansion was driven by increases in notes issued, revaluation accounts and other liabilities, which rose by 6.03 per cent, 17.32 per cent and 23.31 per cent, respectively.

 

“On the assets side, RBI’s gold holding has contributed to a significant increase, as safe-haven demand rose in a volatile global policy environment. The remaining increase was seen in the domestic investment portfolio of the RBI, led by the conduct of OMO purchases for liquidity management,” economists at Bank of Baroda noted.

 

As on 31 March 2025, total gold held by the Reserve Bank was 879.58 metric tonnes, compared with 822.10 metric tonnes on 31 March 2024—reflecting an increase of 57.48 metric tonnes over the year.

 

Of the 879.58 metric tonnes as on 31 March 2025, 311.38 metric tonnes is held as an asset of the Issue Department, compared with 308.03 metric tonnes in the previous year. The remaining 568.20 metric tonnes is treated as an asset of the Banking Department, up from 514.07 metric tonnes a year earlier, the annual report stated.

 

As of 31 March 2025, domestic assets constituted 25.73 per cent of the total, while foreign currency assets, gold (including gold deposits and gold held in India), and loans and advances to financial institutions outside India made up the remaining 74.27 per cent. This compares with 23.31 per cent and 76.69 per cent, respectively, in FY24.

 

“A provision of ₹44,861.70 crore was made and transferred to the Contingency Fund (CF). No provision was made towards the Asset Development Fund (ADF),” the report added.