The Reserve Bank has announced that it will transfer an interim surplus of 28,000 crore rupees to the central government for the half-year ended 31st December 2018. The central bank follows a July-June financial year and usually distributes the dividend in August after annual accounts are finalised.
With this interim transfer, the government will get a total of Rs 68,000 crore from the central bank in the current fiscal. The RBI had transferred Rs 40,000 crore to the government in August 2018.
This will be the highest receipt from RBI in a single financial year for the government, exceeding the Rs 65,896 crore it received in FY16 and Rs 40,659 crore in FY18. A committee headed by former Reserve Bank of India governor Bimal Jalan has been set up to review RBI’s economic capital framework.
Source: Economic Times