RBI will pay a dividend of Rs 30,307 crore to the government for FY22

The Reserve Bank of India (RBI) on Friday said its board had approved a dividend of Rs 30,307 crore to the government for the financial year ending March 2022.

The board has approved the transfer of Rs 30,307 crore as surplus to the central government for the 2021-22 accounting year when it decided to maintain the incidental risk buffer at 5.50 per cent, the RBI said in a statement.

The decision to pay dividends was taken at the 596th meeting of the RBI’s central board chaired by Governor Shaktikant Das on Friday.

In May last year, the RBI declared a dividend of Rs 99,122 crore for nine months (July 2020 to March 2021). Dividends were paid for that period because the RBI linked its fiscal year to the government’s fiscal year.

Previously, the RBI government followed the July-June period as opposed to the April-March fiscal year.

During the meeting, the Board reviewed the current economic situation, global and domestic challenges, and the impact of recent geopolitical developments.

The board also discussed the work of the RBI between April 2021 – March 2022 and approved the annual report and accounts for the year 2021-22, the statement said.

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