RBI to transfer 1.76 lakh crore as dividend

The Reserve Bank of India(RBI) has decided to transfer 1.76 lakh crore rupees as dividend and surplus reserve to the government. 

In a statement issued from Mumbai last evening, RBI informed that this amount includes over 1,23,000 crore rupees of surplus for the year 2018-19 and 52,637 crore rupees of excess provisions identified as per the revised Economic Capital Framework.

The statement



informs that RBI’s Central Board has accepted the recommendations of a high-level panel headed by former RBI Governor Bimal Jalan on transfer of excess reserves to the government. 

It adds that the Central Board has finalized RBI’s accounts for 2018-19 using the revised framework as suggested by the Jalan committee to determine risk provisioning and surplus transfer.