1-MIN READ

RBI Board Approves Dividend Payout of Rs 57,128 Crore to Govt for Current Financial Year

FILE PHOTO: A worker walks past the logo of Reserve Bank of India (RBI) inside its office in New Delhi, July 8, 2019. REUTERS/Anushree Fadnavis

FILE PHOTO: A worker walks past the logo of Reserve Bank of India (RBI) inside its office in New Delhi, July 8, 2019. REUTERS/Anushree Fadnavis

The central bank in a statement said the board has also decided to maintain the Contingency Risk Buffer at 5.5%.

The board of the Reserve Bank of India (RBI) on Friday approved a dividend payout of Rs 57,128 crore to the government for the current financial year.

"The board also approved the transfer of Rs 57,128 crore as surplus to the central government for the accounting year 2019-20, while deciding to maintain the Contingency Risk Buffer at 5.5%," said the central bank in a statement.

The decision was taken at the 584th meeting of the RBI's central board chaired by Governor Shaktikanta Das.

The board reviewed the current economic situation, continued global as well as domestic challenges, and monetary, regulatory and other measures taken by the RBI to mitigate the economic impact of COVID-19 pandemic. It also discussed the proposal of setting up an Innovation Hub.

The board also discussed various areas of operations of the bank during the last year, and approved the annual report and accounts of the of the RBI for 2019-20.

Next Story
Loading