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1.76 Lakh crore transferred: RBI to Central Government
August 27 , 2019
1947 days
963
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- The Reserve Bank of India (RBI) board headed by Governor Shakthi kanta Das has decided to transfer Rs 1.76 trillion in dividend and surplus reserve to the government.
- This follows the RBI board accepting the recommendation of a high-level panel headed by its former Governor Bimal Jalan on ‘transfer of excess reserves to the government’.
- The highest that RBI has ever transferred so far was Rs 65,896 crore in 2014-15.
- The transfer is expected to
- Act as a fiscal stimulus to the economy
- Help government meet fiscal deficit target
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