The Reserve Bank of India's balance sheet with Rs 70.48 lakh crore has surpassed the entire GDP of Pakistan and Bangladesh. In terms of USD, RBI's balance sheet is equivalent to $844.76 billion. According to World Bank data, cited by Business Today, Pakistan's GDP stands at $375 billion, while Bangladesh's GDP is valued at $460 billion.
RBI in its annual report disclosed an 11.08% increase in its balance sheet for FY24, underscoring a significant expansion in the RBI's financial position.
In the annual report, RBI has also stated that the Indian economy is navigating the drag from an adverse global macroeconomic and financial environment. It further added that the Indian economy is well placed to step up growth trajectory over the next decade in an environment of macroeconomic and financial stability.
"As headline inflation eases towards the target, it will spur consumption demand especially in rural areas," it said.
The report mentioned that the external sector's strength and buffers in the form of foreign exchange reserves will insulate domestic economic activity from global spillovers. However it also raised caution over geopolitical tensions, geoeconomic fragmentation, global financial market volatility, international commodity price movements and erratic weather developments posing downside risks to the growth outlook and upside risks to the inflation outlook.
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