3. Legends used in the Presentation
CF Contingency Fund
CG Central Government
FCI Food Corporation of India
GOI The Government of India
IMF International Monetary Fund
INR Indian Rupee
LAF Liquidity Adjustment Facility
MSF Marginal Standing Facility
RBI The Reserve Bank Of India
SAARC South Asian Association for Regional Cooperation
SG State Government
4. Presentation Schema
Overview of RBI
Twin Departments of
RBI
Significant
Accounting Policies
Key Operational
Metrics of RBI
Trends in Financial
Performance of RBI
Income of RBI Expenditure of RBI Liabilities of RBI
Assets of RBI
Overview of Federal
Reserve
RBI vs Federal
Reserve
6. History of RBI
• The Reserve Bank of India (RBI) was established on April 1, 1935 in accordance with the provisions of
the Reserve Bank of India Act, 1934.
• The Central Office of the RBI was initially established in Kolkata but was permanently moved to
Mumbai in 1937.
• The RBI has 27 regional offices, most of them in state capitals and 04 sub-offices.
• Though originally privately owned, since nationalisation in 1949, the RBI is fully owned by GOI.• Originally, the entire share capital of Rs. 5 Crore was allotted to the public except shares worth Rs. 2.2
Lakh face value which were assigned to the CG
• The number of original shareholders from various locations are as follows: Bombay 28,000, Calcutta
23,890, Delhi 23,000, Madras 14,000 and Rangoon 3,157.
7. Constitution of RBI
The Reserve Bank's affairs are governed by a central board of directors. The board is appointed by the
Government of India for a period of 4 years.
Central Board of Directors
Official Directors
Non-official
Directors
Governor
<= 4 Deputy
Governor
Nominated by
Govt.
Others
10 Directors from
various fields
2 Govt. officials
4 Directors – one
each from 4 local
bodies
8. Evolution of Role of RBI
In 1950’s, the then Jawaharlal Nehru introduced a centrally planned economic policy that focussed on
agricultural sector. The RBI was ordered to support economic plan with loans.
In 1960’s, consequent to the bank crashes, the RBI was requested to establish & monitor a deposit
insurance system.
Thereafter, the GOI restructured the national bank market and nationalised a lot of institutions. As a result,
the RBI had to play a crucial part of control support of this public banking sector.
Post nationalisation of commercial banks in 1980, the RBI became the central player and increased its
policies relating to various aspects like interests, reserve ratio and visible deposits.
In 1995, the RBI founded a subsidiary company Bharatiya Reserve Bank Note Mudran Private Limited to
produce bank notes.
Today, the primary role of RBI is to regulate the issue of bank notes, to keep reserves to secure monetary
stability in India, and generally to operate the currency and credit system in the best interests of the
country.
Interalia, RBI performs various functions as banker’s bank, custodian of foreign reserve, controller of credit
and to manage printing and supply of currency notes in the country.
9. Functions of RBI
Monetary Authority:
•Formulates, implements and
monitors the monetary policy.
•Objective: Maintaining price
stability while keeping in mind
the objective of growth.
Regulator and Supervisor of
the Financial System:
•Prescribes broad parameters
of banking operations within
which the country's banking
and financial system functions.
•Objective: Maintain public
confidence in the system,
protect depositors' interest
and provide cost-effective
banking services to the public.
Manager of Foreign
Exchange
•Manages the Foreign
Exchange Management Act,
1999.
•Objective: To facilitate
external trade and payment
and promote orderly
development and
maintenance of foreign
exchange market in India.
Issuer of Currency:
•Issues and exchanges or
destroys currency and coins not
fit for circulation.
•Objective: To give the public
adequate quantity of supplies
of currency notes and coins and
in good quality.
Developmental Role
•Performs a wide
range of promotional
functions to support
national objectives.
Regulator and Supervisor of Payment
and Settlement Systems:
•Introduces and upgrades safe and
efficient modes of payment systems in
the country to meet the requirements
of the public at large.
•Objective: Maintain public
confidence in payment and
settlement system
Related Functions
•Banker to the Govt:
Performs merchant banking
function for the central and
the state governments; also
acts as their banker.
•Banker to banks:
Maintains banking accounts
of all scheduled banks.
10. Twin Departments of RBI
Reserve Bank of India
Banking Department (BD) Issue Department (ID)
Public Debt Public
Accounts
Securities
Deposit
Accounts Issue Department General Department
Deals with resource operations
Deals with Cash transactions
Handles the various bank’s service for the government
as well as the other banks
Concerned with the proper and efficient
management of the note issue
The assets of the ID consists of gold coins, gold bullion, foreign securities, rupee coins and
rupee securities to such aggregate amount as is not less than the total of the liabilities of the ID.
The Act requires that the liabilities of the Issue Department shall be an amount equal to the
total of the amount of the currency notes of the Government of India and Bank notes for the
time being in circulation.
There are 14 branches of the BD, each headed by a
Joint/Deputy Manager.
Country has been divided into 14 circles of
issue, each having an Office of Issue — the
branch of the ID.
12. Significant Accounting Policies
The financial statements are prepared in accordance with the RBI Act, 1934 and RBI General
Regulations, 1949.
Income and expenditure are recognised on accrual basis except penal interest charged from the
banks which is accounted for only when there is certainty of realisation.
Income and expenditure in foreign currency are recorded at the exchange rates prevailing on the
last business day of the week/ month/ year as applicable.
Transactions in gold and foreign currency assets and liabilities are accounted for on settlement
date basis.
Fixed Assets are stated at cost less depreciation except art and paintings and freehold land which
are held at cost.
Repo transactions under LAF and MSF are treated as lending and are accordingly being shown
under ‘Loans and Advances’ whereas Reverse Repo transactions under LAF are being treated as
deposits and shown under ‘Deposit-Others’.
13. Key Operational Metrics of RBI
• The balance sheet size of the RBI increased by ₹4,853.11 bn [13.42%] for the year ended June 30, 2019.
• While income for the year 2018-19 [July-June] increased by 146.59%, the expenditure decreased by 39.72%.
The year ended with an overall surplus of ₹1,759.87 bn as against ₹500 bn in the previous year, representing an
increase of 251.97%.
• It is imperative to note that the increase in income was mainly due to the write back of excess provision
amounting to ₹526.37 bn from Contingency Fund (CF) to Income. This was done after the Central Board had
concluded that the RBI’s financial resilience was within the desired range.
• The Contingency Fund is a specific provision meant for meeting unexpected contingencies that arise from RBI’s
monetary policy and exchange rate operations.
• The increase on the asset side was due to increase in domestic and foreign investments by 57.19% and 5.70%,
respectively and increase in gold by 16.30%.
• On the liability side, the increase was due to increase in Notes issued, Other Liabilities and Provisions, and
Deposits by 13.43%, 11.10% and 17.21%, respectively.
• Domestic assets constituted 28.03% while the foreign currency assets and gold (including gold held in India)
constituted 71.97% of total assets as on June 30, 2019 as against 23.18% and 76.82%, respectively as on June
30, 2018.
14. Trends in Financial Performance of RBI
0
500
1000
1500
2000
2500
2014-15 2015-16 2016-17 2017-18 2018-19
RBI’s Financial Trend
Income Expenditure Net Disposable Income
Out of ₹1,147.55 bn increase in the
income of 2018-19, write back of excess
provision from Contingency Fund
contributes to ₹526.37 bn.
The main cause of decrease in
expenditure of 2018-19 is due to the
low amount of provision made to Asset
Development Fund amounting to ₹0.64
bn As against this, ₹141.90 bn was
made as provision in 2017-18.
This indicates that the improved
financial results in 2018-19 was due to
the accommodation of RBI’s financial
resilience within the desired range.
Even after excluding the provision write back from CF, there is a steep
increase in the income of 2018-19. This is mainly because the forex
transactions witnessed huge net gains in 2018-19 amounting ₹289.98 bn
as against net loss of ₹40.67 bn in 2017-18.
16. Income of RBI
Total Income
₹1,930.36 bn
Domestic Source
₹1,180.78 bn
Foreign Source
₹749.58 bn
Earning from
Rupee Securities
₹616.82 bn
Interest on Loans
and Advances
₹ 14.98 bn
Other earnings
₹548.98 bn
Earning from Foreign
Currency Asset (FCA)
₹749.58 bn
Provision no
longer required
₹526.26 bn
17. Highlights relating to Income
The income from foreign sources, increased by 173.56% from ₹274.01 bn in 2017-18 to ₹749.58 bn in 2018-
19 mainly on account of the general rise in yield/interest rates across all currencies and movement in the
exchange rates.
The net income from domestic sources increased by 132.07% from ₹508.80 bn in 2017-18 to ₹1,180.78
bn in 2018-19 mainly on account of increase in
• coupon income due to an increase in the portfolio of rupee securities
• net income on interest under LAF/ MSF operations due to increase in net liquidity injection to the
banking system and
• write back of excess risk provision from CF.
Under Liquidity Adjustment Facility (LAF), when banks need liquidity to meet its daily requirement, they
borrow from RBI through repo (repurchase agreement). When banks are flushed with fund, they park
it with RBI through the reverse repo mechanism.
Marginal Standing Facility (MSF) is a window for banks to borrow from RBI in emergency situation when inter-
bank liquidity dries up completely, pledging government securities, at a rate higher than repo rate under LAF.
18. Contd.
Interest on holding of Rupee Securities and oil bonds increased by 21.63% on account of increase in
the Reserve Bank’s holding of Government securities consequent to net purchase of ₹3,311.12 bn in
2018-19.
Rupee Securities are securities which are denominated in INR. Oil bonds are akin to government
securities, issued by the government to compensate oil marketing companies (OMCs), fertiliser
companies and FCI for losses borne by them in the process of regulating prices.
Profit on sale and redemption of Rupee Securities decreased to ₹0.40 bn in 2018-19 as against
₹60.36 bn in 2017-18 on account of lower sale of Rupee Securities amounting to ₹0.60 bn (Face
Value) in 2018-19 as compared to ₹900.00 bn (Face Value) in 2017-18.
The net income from premium/discount on amortisation of domestic securities decreased by 31.10% from
₹31.13 bn during 2017-18 to ₹21.45 bn for 2018-19.
The net interest income from Liquidity Adjustment Facility (LAF)/Marginal Standing Facility (MSF)
operations increased to ₹11.81 bn in 2018-19 from ₹(-)94.16 bn in 2017-18 due to increase in net liquidity
injection to the banking system.
19. Contd.
Due to higher utilisation of Ways and Means Advances (WMA)/ Overdraft (OD)/ Special Drawing Facility
(SDF) facility by Central and State Governments in 2018-19, the interest income has increased by 119.28%.
WMA is a mechanism used by RBI under its credit policy to provide to the Bankers assistance to tide
over temporary mismatches in the cash flow of their receipts & payments.
The commission income increased by 11.65% primarily on account of increase in management
commission received for servicing outstanding Central and State Government loans including savings
bonds, Government Securities, Treasury Bills (T-Bills) and Cash Management Bills (CMBs).
With respect to other income, there was an increase from ₹3.73 bn in 2017-18 to ₹526.26 bn in 2018-19
due to write back of excess risk provision from CF to ‘Provision no longer required’.
21. Highlights relating to Expenditure
• During 2018-19 an amount of ₹0.01 bn was paid as interest to Dr. B.R. Ambedkar Fund (set up for
giving scholarship to wards of staff) and Employees Benevolent Fund.
• The total employee cost for the year 2018-19 increased by 78.04% from ₹38.48 bn in 2017-18 to
₹68.51 bn in 2018-19 which was due to net impact of increase in Bank’s expenditure towards
accrued liabilities of various superannuation funds.
• The agency commission paid on account of government business increased by ₹0.57 bn [1.52%] in
2018-19 which might be due to substantial increase in underlying government transactions.
• However, a part of the increased outgo of agency commission has been set off on account of the
savings in agency commission due to transactions being processed through e-Kuber integration.
• The e-Kuber is the Core Banking Solution of the RBI which enables each bank to connect their single
current account held with the RBI for facilitating their day to day functions, across the country.
22. Contd.
As the net market conditions were benign and risk of devolvement reduced, primary dealers demanded
lesser underwriting commission as compared to last year when market conditions had turned volatile
due to modifications in Government borrowing, variations in market liquidity and banking sector
developments.
Consequently, RBI’s payment towards underwriting commission to Primary Dealers reduced to ₹0.74 bn
during 2018-19 as compared to ₹1.13 bn during 2017-18.
The commission paid decreased from ₹0.08 bn in 2017-18 to ₹0.02 bn in 2018-19.
Fees paid for custodial services (included in other expenses) decreased from ₹0.22 bn in 2017-18 to
₹0.17 bn in 2018-19.
In 2018-19, a provision of ₹0.64 bn was made for transfer to Asset Development Fund (ADF).
23. Contd.
• The supply of notes during the year 2018-19 at 29,191 million pieces was 16.75% higher
than that of the year 2017-18 (25,003 million pieces).
• However, the expenditure incurred on printing of banknotes decreased by 2.06% from ₹49.12
bn in the year 2017-18 to ₹48.11 bn during the year 2018-19 predominantly on account of
downward revision of the rates of printing of banknotes supplied by Bharatiya Reserve Bank
Note Mudran Private Limited (BRBNMPL) press.
• Other expenses consisting of expenditure on remittance of currency, printing and stationery,
audit fees and related expenses, miscellaneous expenses etc. increased by 3.44% from ₹14.23
bn in 2017-18 to ₹14.72 bn in 2018-19.
26. Liabilities of RBI
Total Liabilities
₹41,029.05 bn
General Issue Department
Capital
₹0.05 bn
Reserve Fund
₹65.0 bn
Other reserves
2.30 bn
Notes issued
₹21,687.97 bn
Deposits
₹7,649.22 bn
Other liabilities &
provisions
₹11,624.51 bn
27. Highlights relating to Liabilities
• The above increase was on account of the continued efforts of Reserve Bank of India to supply adequate
quantity of banknotes to meet the transactional needs of the public.
• An amount of ₹107.20 bn, representing the value of Specified Bank Notes (SBNs) not paid was transferred to
‘Other Liabilities and Provisions’ as on June 30, 2018.
• ‘Specified Bank Note’ means a bank note of the denominational value of ₹500 or ₹1,000 of the series existing
on or before the 8th day of November, 2016.
• In terms of Gazette Notification issued by GOI on May 12, 2017, the RBI has made payments to the extent of
₹0.13 bn towards exchange value of SBNs to eligible tenderers during the year ended June 30, 2019.
• The liabilities of Issue Department reflect the quantum of currency notes in circulation. The ‘Notes Issued’
increased by 13.43% from ₹19,119.60 bn as on June 30, 2018 to ₹21,687.97 bn as on June 30, 2019.
• Provision of ₹0.64 billion was made towards new investments in National Centre for Financial Education
(NCFE) and Indian Financial Technology and Allied Services (IFTAS).
28. Contd.
• Total deposits increased by 17.21% from ₹6,525.97 bn as on June 30, 2018 to ₹7,649.22 bn as on June 30,
2019, which comprises of deposits from banks, government and other deposits
• The amount under ‘Deposits-Others’ increased by 48.16 % from ₹1,453.59 bn as on June 30, 2018 to ₹2,153.71
bn as on June 30, 2019 primarily due to increase in reverse repo deposits with the RBI.
• The balance in Currency & Gold Revaluation Account (CGRA) decreased by 3.93 % from ₹6,916.41 bn as on
June 30, 2018 to ₹6,644.0 bn as on June 30, 2019 mainly due to depreciation of major currencies against US
dollar and partly compensated by the rise in the international price of gold.
• CGRA provides a buffer against exchange rate/gold price fluctuations. When CGRA is not sufficient to fully meet
exchange losses, it is replenished from the contingency fund.
• The balance in Investment Revaluation Account – Rupee Securities (IRA-RS) increased from ₹132.85 bn as on
June 30, 2018 to ₹494.76 bn as on June 30, 2019 due to increase in portfolio of rupee securities and decline in
yields on GOI securities held by the Bank during the year.
• The Reserve Bank is not liable to pay income tax or super tax on any of its income, profit or gains. Accordingly,
after adjusting the expenditure, provision for ADF and contribution of ₹0.04 bn to the statutory funds*, the
surplus transferable to GOI for the year 2018-19 amounted to ₹1,759.87 bn.
* The four statutory funds are National Industrial Credit (Long Term Operations) Fund, National Housing Credit
(Long Term Operations) Fund, National Rural Credit (Long Term Operations) Fund and National Rural Credit
(Stabilisation) Fund.
29. Other Liabilities & Provisions (+/- in %
from last year)
Other Liabilities &
Provisions
₹11,624.51 bn
[+11%]
Miscellaneous
₹133.51 bn
[+4%]
Contingency
Fund [CF]
₹1,963.44 bn
[-15%]
Asset Development
Fund [ADF]
₹228.75 bn
[+0.3%]
Currency & Gold
Revaluation Account
[CGRA]
₹6,644.80 bn
[-4%]
Investment Revaluation
Account-Foreign
Securities [IRA-FS]
₹157.35 bn
Foreign Exchange
Forward Contract
Valuation Account
[FCVA]
₹13.04 bn
[-60%]
Provision for
payables
₹22.81 bn
[-18%]
Gratuity &
Superannuation Fund
₹206.10 bn
[+18%]
Investment Revaluation
Account-Rupee
Securities [IRA-RS]
₹494.76 bn
[+272%]
Surplus
transferrable to GOI
₹1,759.87 bn
[+252%]
Bills payable
₹0.08 bn
[+60%]
30. Assets of RBI
Total Assets
₹41,029.05 bn
Banking
Department
Issue
Department
Notes, Rupee coin
and Small coin
₹0.09 bn
Gold coin &
Bullion
₹882.98 bn
Investments
Gold coin & Bullion (as
backing for notes issue)
₹792.04 bn
Loans & advances
₹931.87 bn
Investment in
subsidiaries
₹19.64 bn
Other
Assets
₹643.20 bn
Domestic
₹9898.77 bn
Foreign
₹6,964.53 bn
Rupee coin
₹8.28 bn
Foreign Investments
₹20,887.65
31. Highlights relating to Assets
• As on June 30, 2019, the Bank holds 618.16 metric tonnes of gold as compared to 566.23 metric
tonnes as on June 30, 2018.
• The value of gold held as asset of Banking Department increased by 26.73% from ₹696.74 bn as
on June 30, 2018 to ₹882.98 bn as on June 30, 2019, on account of addition of 51.93 metric tonnes
of gold during the year as well as rise in the international price of gold.
• The Reserve Bank’s holding of domestic securities increased by 57.19%, from ₹6,297.45 bn as on
June 30, 2018 to ₹9,898.77 bn as on June 30, 2019, which comprises of dated Government Rupee
Securities, T-Bills and Special Oil Bonds.
• The above increase was on account of liquidity management operations conducted by way of net
purchase of government securities amounting to ₹3,311.12 bn (face value).
• The amount outstanding under ‘Other Assets’ increased by 58.45% from ₹405.92 bn as on June 30,
2018 as compared to ₹643.20 bn as on June 30, 2019 primarily on account of interim transfer
made to CG during the year.
32. Contd.
• Other Assets comprise fixed assets, accrued income, balances held in Swap Amortisation Account
(SAA) and Revaluation of Forward Contracts Account (RFCA), and miscellaneous assets.
• Miscellaneous assets comprise mainly loans and advances to staff, amount spent on projects
pending completion, security deposit paid, interim amount transferred to central government, etc.
• The forward contracts are marked to market on a half yearly basis and the net gain is recorded in
Forward Contracts Valuation Account (FCVA) with contra entry in the RFCA.
• The balance in RFCA was ₹32.62 bn as on June 30, 2018 and ₹13.04 bn as on June 30, 2019. The
balance represents marked to market gain on outstanding forward contracts.
• Pursuant to the amendment in National Housing Bank Act, 1987 and enactment of NABARD
Amendment Act, 2018, the entire shareholding of the RBI in NHB (100%) and NABARD (0.40%)
amounting to ₹14.50 bn and ₹0.20 bn, respectively, have been transferred to GOI during the year.
• The Loans & Advances of ₹931.87 bn comprises of those given to CG & SG, scheduled commercial
banks and others, and lending through Repo to the financial institutions.
33. Investments in Subsidiaries/Associates
The subsidiaries/Associates of the RBI, the value of investments made and the respective% of holding is as
follows.
RBI
Deposit Insurance and Credit
Guarantee Corporation (DICGC)
₹0.50 bn [100%]
Indian Financial Technology &
Allied Services (IFTAS)
₹0.34 bn [100%]
Bharatiya Reserve Bank Note
Mudran Pvt. Ltd. (BRBNMPL)
₹18.0 bn [100%]
Reserve Bank Information
Technology (P) Ltd. (ReBIT)
₹0.50 bn [100%]
National Centre for Financial
Education (NCFE)
₹0.30 bn [30%]
34. Foreign Currency Assets
The total investments in foreign assets as on June 30, 2019 amounts to ₹27,852.18 bn out of which
₹20,887.65 bn pertains to the Issue Department and ₹6,964.53 bn pertains to the Banking Department.
The RBI has agreed to make resources available under the IMF’s New Arrangements to Borrow (NAB).
Currently India’s commitment under NAB stands at Special Drawing Rights* (“SDR”) 4.44 bn (₹425.48 bn /
US$ 6.17 bn). As on June 30, 2019, investments amounting to SDR 0.29 bn (₹27.85 bn / US$0.40 bn) have
been made under the NAB.
The RBI has agreed to invest up to an amount, the aggregate of which shall not exceed US$5 bn (₹344.59
bn), in the bonds issued by India Infrastructure Finance Company (UK) Limited. As on June 30, 2019, the
RBI has invested US$1.86 bn (₹128.39 bn) in such bonds.
In terms of the Note Purchase Agreement, 2016 entered into by the RBI with IMF, the RBI would purchase
SDR denominated Notes of IMF for an amount up to the equivalent of US$10 bn (₹689.18 bn).
During the year 2013-14, the RBI and GOI entered into an MoU for transfer of SDR holdings from GOI to the
RBI in a phased manner. As on June 30, 2019, SDR 1.05 bn (₹100.36 bn/ US$1.46 bn) were held by the RBI
With a view to strengthening regional financial and economic cooperation, the RBI has agreed to offer an
amount of US$2 bn both in foreign currency and INR under the SAARC Swap Arrangement to SAARC
member countries. As on June 30, 2019, Swap with Bhutan, amounting to US$0.1 bn (₹6.89 bn) is
outstanding.
* SDR operates as a supplement to the existing money reserves of member countries of IMF
36. Establishment of Federal Reserve
The Federal Reserve is the Central Banking system of the United States.
In establishing the Federal Reserve System, the United States was divided geographically into 12 Districts, each
with a separately incorporated Reserve Bank.
District boundaries were based on prevailing trade regions that existed in 1913 and related economic
considerations
The framers of the Federal Reserve Act provided for a central banking "system" with three salient features: (1)
a central governing Board, (2) a decentralized operating structure of 12 Reserve Banks, and (3) a
combination of public and private characteristics.
The seven members of the Board of Governors of the Federal Reserve System are nominated by the President
and confirmed by the Senate. A full term is of 14 years. One term begins every two years, on February 1 of
even-numbered years.
The Chairman and the Vice Chairman of the Board are named by the President from among the members
and are confirmed by the Senate. They serve a term of 4 years.
37. Role of Federal Reserve
Stabilising Economic Health
The Federal Reserve performs
various functions in the public
interest to promote the health
of the U.S. economy and the
stability of the U.S. financial
system.
Fostering Safety and Efficiency in
Payment & Settlement System
The Federal Reserve works to
promote a safe, efficient, and
accessible payment and settlement
system for U.S. dollar transactions.
Promotes Consumer Protection
& Community Development
The Federal Reserve advances
supervision, community
reinvestment, and research to
increase understanding of the
impacts of financial services
policies and practices on
consumers and communities.
Supervising and Regulating
Financial Institutions and Activities
The Federal Reserve promotes the
safety and soundness of individual
financial institutions and monitors
their impact on the financial system
as a whole.
Conducting Monetary Policies
The Federal Open Market Committee
sets U.S. monetary policy in
accordance with its mandate from
Congress: to promote maximum
employment, stable prices, and
moderate long-term interest rates in
the U.S. economy.
41. Comparison of Asset Components
Asset components of Federal Reserve Corresponding asset of RBI
Gold certificates NA
Special drawing rights certificates NA
Coin Notes, Rupee coins, small coins
Loans Loans & advances
System Open Market Account:
Securities purchased under agreements to resell Investments
Treasury securities, net Investments
Government-sponsored enterprise debt securities, net Investments
Federal agency and government-sponsored enterprise mortgage-backed
securities, net
Investments
Foreign currency denominated investments, net Investments
Central bank liquidity swaps Swap Amortisation account
Accrued interest receivable Accrued income
Bank premises and equipment, net Fixed assets
Items in process of collection Miscellaneous
Other assets Miscellaneous
42. Comparison of Liability Components
Liability components of Federal Reserve Corresponding liability of RBI
Federal Reserve notes outstanding, net Notes issued
System Open Market Account:
Securities sold under agreements to repurchase Other liabilities and provision
Other liabilities Other liabilities and provision
Deposits:
Depository institutions Deposits
Treasury, general account Deposits
Other deposits Deposits
Interest payable to depository institutions and others Provision for payables
Accrued benefit costs Gratuity and Superannuation Fund
Deferred credit items Other liabilities and provision
Accrued remittances to the Treasury Surplus transferable to GOI
Other liabilities Other liabilities and provision
Capital paid-in Capital
Surplus Reserve Fund