The Reserve Bank of India's (RBI) central board on Friday approved the transfer of ₹87,416 crore as surplus to the government for FY23, surpassing the budget estimate by 82%.
The union budget estimated an aggregate dividend of ₹48,000 crore from the RBI and public sector lenders. The large surplus transfer by the central bank would help the government manage its fiscal math, economists said.
Last year, the central bank transferred a surplus of ₹30,307 crore to the Centre.
Experts estimated a high dividend payout in FY23 on the back of bumper profits from forex sales and higher interest income. On Friday, the RBI board also decided to raise the contingency risk buffer to 6% from 5.5% last year.
Bu hikaye Mint Mumbai dergisinin May 20, 2023 sayısından alınmıştır.
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Bu hikaye Mint Mumbai dergisinin May 20, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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