CB loss Rs. 114 bn is fraudulent? Actual profit is Rs. 492 bn.! Who is responsible for misreporting?
This article is to present the actual profitability of the central bank (CB) in 2022 and 2023 against the colossal losses published by the CB. Loss scenario - Business accounting standards The CB has reported a loss of Rs. 374 bn for 2022 and Rs. 114 bn for 2023 (see table below). This is based on adoption of evolving business accounting standards recommended for large commercial-based financial institutions. Therefore, the adoption of same standards for the CB is inappropriate for the CB is a financial regulatory institution operating on monopoly money printing license of the government. For instance, huge book-keeping/unrealised losse of Rs. 737 bn in 2022 and Rs. 597 bn in 2023 has resulted annual losses for 2022 and 2023. A detailed article was released in this blog yesterday ( Read the article here ) to explain the inappropriateness of business accounting standards for central banks and questionable accounting used for the CB. Profit scenario - Central bank accounting standards T