RBI to pay Rs 87,416 crore dividend to government

The Reserve Bank of India (RBI) board decided on Friday to transfer Rs 87,416 crore as dividend to Government of India for the accounting year 2022-23, according to an official statement. The RBI transfers surplus funds — basis income earned from investments — to the Centre as dividend annually.

RBI to transfer surplus as dividend to government: 10 things to know

• The RBI's payout to the government is for the accounting year 2022-23.

• The board decided to transfer the central bank's surplus funds as a payout to the government at its 602nd meeting, held on the same day. 

• The RBI board reviewed the global and domestic economic situation as well as associated challenges such as the impact of current global geopolitical developments, according to the statement.
• The amount is 2.9 times compared with the previous year, when the RBI had transferred Rs 30,307 crore as dividend.
• According to the Union Budget 2023, the government estimated to receive Rs 48,000 crore as RBI dividend.
• The RBI board decided to keep the contingency risk buffer at six per cent.   
• In the meeting, the board discussed the working of the RBI during the financial year 2022-23, which ended on March 31.
• The board gave nod to the RBI's annual report as well as accounts for the accounting year 2022-23.
• The meeting took place in Mumbai under the Chairmanship of RBI Governor Shaktikanta Das.
• RBI Deputy Governors Mahesh Kumar Jain, Michael Patra, M Rajeshwar Rao, T Rabi Sankar, and central board directors Satish K Marathe, Revathy Iyer, Sachin Chaturvedi, Anand Gopal Mahindra, Pankaj Ramanbhai Patel and Ravindra H Dholakia attended the meeting. Economic Affairs Secretary Ajay Seth was also in attendance.

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