Top 10 central banks of the world – Here’s where India’s RBI stands

Central banks play a critical role in the global financial system. They are responsible for managing a country’s monetary policy, controlling inflation, regulating the financial system, and overseeing the stability of the currency. By setting interest rates and managing reserves, central banks influence economic activity and ensure the smooth functioning of financial markets. They also act as a lender of last resort to commercial banks and other financial institutions during times of economic distress.

According to the Sovereign Wealth Fund Institute (SWFI), the Reserve Bank of India (RBI), India’s central banking institution, ranks 12th among the world’s central banks by total assets.

These assets typically include foreign exchange reserves, gold reserves, and government bonds, among others. The top 10 wealthiest central banks globally are noted for their substantial asset bases, reflecting their significant influence on global economics and finance.

The total wealth of central banks provides insights into the economic outlook of their countries. This assessment is primarily based on the central bank’s assets, with its balance sheet serving as a key indicator of national economic health.

In FY24, the RBI’s balance sheet grew 11.07% to Rs 70.47 lakh crore compared to Rs 63.44 lakh crore in FY23. The RBI’s income stood at Rs 2.75 lakh crore, up 17.04 per cent as against Rs 2.35 lakh crore in the FY2022-23, according to the central bank’s annual report.

According to the SWFI report, the Federal Reserve System of the United States of America ranks as the world’s richest central bank, with assets worth $7.84 trillion. Notably, European central banks dominate the list of the world’s richest central banks, occupying seven of the top ten spots. Collectively, these European institutions have a combined worth of $11.09 trillion.

In the list which comprises names of 100 central banks, the Bank of Ghana and Central Bank of Paraguay are ranked 99th and 100 respectively.

Top 10 central banks of the world by total assets