Business

RBI to pay Rs 30,307 crore dividend to govt for FY22


Reserve Bank of India (RBI) on Friday stated its board has authorised a dividend fee of Rs 30,307 crore to the federal government for the monetary ended March 2022.

Dividend

The board authorised the switch of Rs 30,307 crore as surplus to the central authorities for the accounting 12 months 2021-22 whereas deciding to take care of the Contingency Risk Buffer at 5.50 per cent, RBI stated in an announcement.

The choice on the dividend fee was made within the 596th assembly of the Central Board of Directors of RBI, headed by Governor Shaktikanta Das, held on Friday.

 

Last 12 months in May, RBI declared a dividend of Rs 99,122 crore for the nine-month interval (July 2020 to March 2021).

The dividend was paid for that interval as RBI aligned its monetary 12 months with the federal government’s monetary 12 months.

Earlier, RBI used to comply with July-June interval earlier as towards authorities’s April-March monetary 12 months.

During its assembly, the board reviewed the present financial state of affairs, world and home challenges and the affect of latest geopolitical developments.

The board additionally mentioned the working of RBI throughout the 12 months April 2021 – March 2022 and authorised the annual report and accounts for the accounting 12 months 2021-22, the assertion stated.



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