The Reserve Bank of India’s balance sheet saw a significant 20.6% expansion to reach Rs 91.97 lakh crore by March 31, 2026, compared to the previous year. This growth was primarily driven by increased domestic investments, gold holdings, and foreign investments, as per the RBI’s annual report. In absolute terms, the balance sheet surged by Rs 15.72 lakh crore during the year, elevating total assets from Rs 76.25 lakh crore in the previous year.
The expansion in FY26 marked a notable acceleration from the 8.2% growth seen in the previous fiscal year, with the RBI’s balance sheet now accounting for 26.4% of the country’s GDP. This growth was attributed to liquidity operations, reserve management, and changes in asset composition. Notably, domestic investments surged by 44.9%, gold holdings by 63.8%, and foreign investments by 7.9% during the period.
As of March 31, 2026, domestic assets constituted 29.1% of the total assets, up from 25.7% in the previous year. The remaining 70.9% comprised foreign currency assets, gold holdings, and loans and advances to financial institutions outside India, reflecting a faster pace of growth in domestic assets compared to foreign assets. On the liabilities side, revaluation accounts, notes issued, deposits, and other liabilities all witnessed an increase in FY26.
The RBI’s balance sheet has shown a consistent expansion in recent years, starting from Rs 63.45 lakh crore in FY23, reaching Rs 91.97 lakh crore in FY26. During FY26, the RBI transferred Rs 1.09 lakh crore to the Contingency Fund, in line with its Economic Capital Framework. This provision was made to maintain the contingent risk buffer within a range of 4.5% to 7.5% of the balance sheet. Additionally, the RBI declared a record dividend of approximately Rs 2.87 lakh crore to the Centre for FY26, aimed at addressing challenges arising from the West Asia crisis.
