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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