Highlighting that macro-economic fundamentals remain strong, Banking regulator RBI has released its annual report for 2023-24 on May 30 with headline inflation expected to become moderate going further.
Furthermore, the RBI also denounced the risks pertaining to food inflation saying that it remains vulnerable when it concerns supply-side shocks. While in its pursuit of price stability, The MPC will remain resolute as per the annual report.
Additionally, its annual report released on Thursday showed RBI has had a net income of Rs 2.11 lakh crore in the financial year 2024, which is up from Rs 87,420 crore in the previous year and also with a jump in interest income from foreign securities.
Moreover, the Reserve Bank of India has witnessed an upsurge of Rs 83,616 crore from foreign exchange transactions while interest income from foreign securities rose to Rs 65,328 crore during the year. This has allowed RBI to increase the size of its contingency fund as per the report.
And to conclude, during the financial year to Rs 70.48 lakh crore, the RBI's balance sheet size has increased by 11.08 percent.
