RBI to transfer Rs.99,122 cr as surplus to Central govt

Reserve Bank of India will transfer 99,122 crore rupees as surplus to the Central Government. The meeting of Central Board of Directors of RBI was held yesterday under the Chairmanship of Governor Shaktikanta Das. The Board approved the transfer of 99,122 crore rupees as surplus to the Central Government for the accounting period of nine months ended March 31, 2021 and decided to maintain the Contingency Risk Buffer at 5.50 per cent. 

The Board in its meeting reviewed the current economic situation, global and domestic challenges and recent policy measures taken by the Reserve Bank to mitigate the adverse impact of the second wave of COVID-19 on the economy.

 

With the change in the



Reserve Bank’s accounting year to April-March (earlier July-June), the Board discussed the working of the RBI during the transition period of nine months (July 2020-March 2021) and approved the Annual Report and accounts of the Reserve Bank for the transition period.

 

Deputy Governors Mahesh Kumar Jain, Dr. Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar and other Directors of the Central Board-N. Chandrasekaran, Satish K. Marathe, S. Gurumurthy, Revathy Iyer and Prof. Sachin Chaturvedi attended the meeting. Debasish Panda Secretary, Department of Financial Services and Ajay Seth, Secretary, Department of Economic Affairs also attended the meeting.