The Reserve Bank of India (RBI) announced that its board of directors has authorised a dividend payment to the government of Rs 30,307 crore for the fiscal year ending March 2022.
The board authorised a surplus transfer to the central government of Rs 30,307 crore for the fiscal year 2021-22, while keeping the Contingency Risk Buffer at 5.50 per cent, the RBI said in a statement.
The decision to pay the dividend was decided at the 596th meeting of the RBI’s Central Board of Directors, which was chaired by Governor Shaktikanta Das on Friday.
In the May of last year, the RBI announced a dividend of Rs 99,122 crore for the nine-month period (July 2020 to March 2021). The dividend was given during that period since the RBI’s fiscal year coincided with the fiscal year of the government.
Previously, the RBI followed the July-June fiscal year rather than the government’s April-March fiscal year.
The board discussed the present economic environment, global and domestic concerns, and the impact of recent geopolitical developments at its meeting.
The board also addressed RBI operations from April 2021 to March 2022 and adopted the annual report and accounts for the fiscal year 2021-22, according to the statement.
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