The size of the Reserve Bank of India’s balance sheet has increased by 8.20% in 2024-25 amid rise in gold reserves and investments made by the central bank in domestic and foreign currency assets. 

The balance sheet has expanded to Rs 76,25,421.93 crore as on 31 March 2025, from Rs 70,47,703.21 crore a year ago. This has led to a bumper dividend of Rs 2.69 lakh crore for the central government.

“Increase on assets side was due to rise in gold, domestic investments and foreign investments by 52.09%, 14.32% and 1.70%, respectively,” RBI said in its annual report for the year 2024-25.

“On the liabilities side, expansion was due to increase in notes issued, revaluation accounts, and other liabilities by 6.03%, 17.32% and 23.31%, respectively,” the report further stated.

RBI’s gold reserve as of 31 March 2025 swelled to 879.58 tonnes as prices rose amid geopolitical and trade uncertainties, of which around 367.60 tonnes were held abroad. In the previous year, the gold reserve was 822.10 tonnes.

Foreign currency assets rose to Rs 48.83 lakh crore as of 31 March 2025, up from Rs 48.02 lakh crore a year ago. This includes deposits with other central banks, with Bank for International Settlements, with overseas commercial banks, investments in foreign treasury bills and securities and special drawing rights acquired from the government of India.

Domestic securities held by the RBI increased to Rs 15.58 lakh crore from Rs 13,63 lakh crore as on 31 March 2024, mainly on account of liquidity management operations. 

Income for the year increased by 22.77% and expenditure by 7.76%.

“The year ended with an overall surplus of Rs 2,68,590.07 crore as against Rs 2,10,873.99 crore in the previous year, resulting in an increase of 27.37%,” RBI said.

A provision of Rs 44,861.70 crore was made and transferred to the Contingency Fund.

Currency

The value and volume of banknotes in circulation increased 6% and 5.6%, respectively, during 2024-25.

In absolute numbers, total bank notes in circulation were 15.5 lakh pieces as of 31 March 2025 compared with 14.68 lakh pieces a year ago. 

The Rs 500 notes constituted 40.9% of notes in circulation. Total value of bank notes in circulation stood at Rs 36.86 lakh crore against Rs 34.77 lakh crore in the previous year. The value and volume of coins increased 9.6% and 3.6%, respectively.