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The reserve bank of india will pay a record rs 2.1 lakh crore dividend to the government for the fiscal ended on march 31, more than double of what was budgeted expectation, helping shore up revenue ahead of a new government taking office. the rbi board, at its meeting on wednesday, approved the transfer of surplus, the central bank said in a statement. the government had budgeted a receipt of rs 1.02 lakh crore as dividends from the rbi, public sector banks and financial institutions in the interim budget

(This story has not been edited by THE WEEK and is auto-generated from a PTI

The dividend payout was Rs 87,416 crore for 2022-23.

As the economy remains robust and resilient, the Board has decided to increase the Contingent Risk Buffer to 6.50 per cent for FY 2023-24, says RBI

The Reserve Bank on Wednesday approved a Rs 2.11 lakh crore dividend payout to the central government for 2023-24, more than double the amount it paid for the previous 2022-23 financial year. The decision was taken at the 608th meeting of the Central Board of Directors of the Reserve Bank of India held under the chairmanship of Governor Shaktikanta Das.