 "RBI balance sheet expands 12.25% in FY16")
The entire surplus of Rs 65,876 crore at was transferred to the central government for 2015-16, RBI said in its annual report for FY16. It had transferred Rs 65,856 crore in 2014-15.
While income for the year 2015-16 increased marginally by 2.04 per cent, the expenditure increased by 12.23 per cent primarily due to provision made for reimbursing service tax on agency commission paid to agency banks.
The year ended with an overall surplus of Rs 65,876 crore as against 65,896 crore in the 2014-15 year, representing a marginal decline of 0.03 per cent.
The Reserve Bank's holding of domestic securities increased by 35.71 per cent from Rs 5,17,497 crore at end of June 2015 to Rs 7,02,285 crore in June 2016. The increase was on account of liquidity management operations conducted by way of net Open Market Operation (OMO) purchases of government securities amounting to Rs 1,38,438 crore.
The valuation gains on account of lower level of G-sec yields on June 30, 2016 compared to last year also contributed growth in holdings of domestic paper. The increase in notes in circulation was 15.92 per cent and for other liabilities and provisions it was 14.77 per cent.
As on June 30, 2016 domestic assets constituted 24.59 per cent while the foreign currency assets and gold (including gold held in India) constituted 75.41 per cent of total assets as against 21.86 per cent and 78.14 per cent, respectively, as on June 30, 2015.
RBI did not make any transfers to Contingency Fund (CF). It made provision of Rs 10 billion for additional capital contribution in Bharatiya Reserve Bank Note Mudran Pvt. Ltd. (BRBNMPL) and transferred to Asset Development Fund (ADF).