Govt to get Rs 87,416 crore dividend from RBI

Mumbai, May 19

The Reserve Bank on India (RBI) on Friday approved Rs 87,416-crore dividend payout to the Central government for 2022-23, nearly triple of what it paid in the previous year.

The dividend payout was Rs 30,307 crore for accounting year 2021-22.

The decision was taken at the 602nd meeting of the Central Board of Directors of Reserve Bank of India held under the chairmanship of Governor Shaktikanta Das.

“The Board approved the transfer of Rs 87,416 crore as surplus to the central government for accounting year 2022-23, while deciding to keep the Contingency Risk Buffer at 6 per cent,” RBI said in a statement.

The Board also reviewed the global and domestic economic situation and associated challenges, including the impact of current global geopolitical developments.

The Board also discussed the working of RBI during 2022-23 and approved the annual report and accounts of the central bank for the year. — PTI

Nearly three times than in FY2021-22

• The dividend payout is significantly higher than the amount estimated in the Union Budget 2023-24 from the central bank and state-owned financial institutions
• The government was expecting Rs 48,000 crore from the RBI, public sector banks and financial institutions in the current fiscal
• The dividend payout by the RBI was Rs 30,307 crore for accounting year 2021-22