RBI may transfer up to Rs 1 lakh crore dividend to the government, potentially boosting its financial position.
The Reserve Bank of India (RBI) may transfer a significantly higher dividend, potentially around Rs 1 lakh crore, to the government, compared to last year's payout. Recent actions by the RBI, including reducing the government's borrowing through Treasury Bills and supporting an operation to allow the government to repay Rs 60,000 crore of earlier borrowings ahead of schedule, indicate an effort to utilise idle government funds. These measures suggest a potential boost to the Centre's financial position. The RBI is expected to announce the transfer of its surplus funds by late May.
May 20, 2024
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