RBI to pay Rs 87,416 crore dividend to Central govt

Mumbai (Maharashtra) [India], May 19 (ANI): The Central Board of Directors of Reserve Bank of India on Friday approved the transfer of Rs 87,416 crore as dividend to the central government for the accounting year 2022-23. The central bank also decided to keep the contingency risk buffer at 6 per cent, according to a statement from the spokesperson from the central bank.
The Central Board in the meeting on Friday reviewed the global and domestic economic situation and associated challenges including the impact of current global geopolitical developments.
The 602nd meeting of the Central Board of Directors of the Reserve Bank of India was held today in Mumbai under the chairmanship of Shaktikanta Das, Governor.
The Board also discussed the working of the Reserve Bank during the year April 2022 - March 2023 and approved the annual report and accounts of the central bank for the accounting year 2022-23, according to a statement from the central bank.
Deputy Governors Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao, T Rabi Sankar and other directors of the central Board, namely Satish K. Marathe, Revathy Iyer, Sachin Chaturvedi, Anand Gopal Mahindra, Pankaj Ramanbhai Patel and Ravindra H. Dholakia were at the meeting. Ajay Seth, Secretary of the Department of Economic Affairs also attended the meeting. (ANI)