Mumbai: The Reserve Bank on Wednesday approved a dividend payment of Rs 2.11 lakh crore to the central government for 2023-24, more than double the amount it paid for the previous 2022-23 financial year.
This decision was taken in the 608th meeting of the Central Board of Directors of the Reserve Bank of India held under the chairmanship of Governor Shaktikanta Das.
"The Board...approved the transfer of Rs 2,10,874 crore as surplus to the Central Government for the accounting year 2023-24," the RBI said in a statement.
The dividend payment for 2022-23 was Rs 87,416 crore.
"With the revival in economic growth in FY 2022-23, the contingent risk buffer (CRB) was increased to 6.00 per cent. As the economy remains strong and resilient, the Board revised the CRB to 6.50 per cent for FY 2023." It has been decided to increase it by -24,” RBI said.
This decision was taken in the 608th meeting of the Central Board of Directors of the Reserve Bank of India held under the chairmanship of Governor Shaktikanta Das.
"The Board...approved the transfer of Rs 2,10,874 crore as surplus to the Central Government for the accounting year 2023-24," the RBI said in a statement.
The dividend payment for 2022-23 was Rs 87,416 crore.
"With the revival in economic growth in FY 2022-23, the contingent risk buffer (CRB) was increased to 6.00 per cent. As the economy remains strong and resilient, the Board revised the CRB to 6.50 per cent for FY 2023." It has been decided to increase it by -24,” RBI said.
