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Reserve Bank of India to transfer Rs 57,128 cr as dividend to Centre

Monday, 17 Aug 2020
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The Reserve Bank of India (RBI) will transfer Rs 57,128 crore of its surplus to the Union government for FY20, against Rs 1.76 trillion it did in FY19.

The Central government had budgeted for Rs 60,000 crore to bridge its fiscal deficit, but government officials had expected more.

The Centre’s fiscal deficit for Q1/FY21 stood at Rs 6.62 trillion, which is 83 percent of the budgeted target for FY21.

RBI’s financial year runs from July to June, but from 2021, it will get aligned with that of the government and end in March.

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