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Surplus transfer to govt
August 18 , 2020
1554 days
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- The Central Board of the Reserve Bank of India approved the transfer of Rs 57,128 crore as surplus or dividend to the central government for accounting year 2019-20.
- It is sharply lower by 67.5 per cent from Rs 1.76 lakh last year.
- The RBI’s central board last year accepted the recommendations of the high-level panel, under the leadership of former RBI Governor Bimal Jalan.
- This panel was formed to recommend ways to utilise RBI’s excess cash reserve and part transfer to the government.
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