RBI hands over chunk of its capital to government

The Reserve Bank of India has handed over a chunk of its capital to the government as a one-off payment, after an expert committee delivered its long-awaited report on how the central bank should share its profits.

The RBI’s central board signed off on a transfer of 1.8 trillion rupees ($24.7 billion) on August 26. The figures comprise 1.2 trillion rupees of “surplus” for the 2018–19 financial year, and 526 billion rupees from the RBI’s capital, deemed to be “excess provisions”.

The question

You are currently unable to copy this content. Please contact [email protected] to find out more.

by :

Source link

Capital Media

Read Previous


Read Next

Rate for : U.S.A.

%d bloggers like this: