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The central board of directors of the Reserve Bank of India (RBI) decided to increase the contingent risk buffer (CRB) for FY23-24 to 6.50% from 6% a year ago and transfer Rs2.11 lakh crore surplus to the Union government. This is the highest-ever yearly surplus transfer by RBI to the Union government.
Since April, the yield on government securities fell around 10-15 basis points due to multiple factors , like the easing inflation print, Brent crude oil prices, and the higher dividend transfer announced by the Reserve Bank of India.
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As the economy remains robust and resilient... the Board has approved the transfer of Rs 2,10,874 crore as surplus to the Central Government for the accounting year 2023-24
Last fiscal year, the central bank had given Rs 87,416 crore to the Centre as surplus.
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