Media claims that the Reserve Bank of India (RBI) has a reserve of Rs 9.6 trillion. The government wants a portion of this money to be transferred to it for its expenses. Let us examine the accounting and economic details. As per the balance sheet of the RBI, the total share capital and reserves are Rs 67.26 billion. There is no other reserve on the balance sheet. All the amounts actually represent liabilities payable, or provisions made by the RBI.
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First Published: Wed, December 26 2018. 21:16 IST