RBI approves dividend payout of Rs 57,128 cr to Modi govt

On Friday, the Reserve Bank of India (RBI) approved a dividend payout of Rs 57,128 crore to the government.

The Central Board of the RBI met on Friday under the Chairmanship of Governor Shaktikanta Das through video conference. This was the 584^th meeting of the Central Board.

During the meeting, the Board reviewed the current economic situation, continued global and domestic challenges, and the monetary, regulatory and other measures taken by RBI to mitigate the economic impact of COVID-19 pandemic.

The proposal of setting up an Innovation Hub was also discussed during the meeting. The Board also discussed various areas of operations of the bank during the last year and approved the Annual Report and accounts of the Reserve Bank for the year 2019-20.

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The transfer of ₹57128 crore as surplus to the Central Government for the accounting year 2019-20, while deciding to maintain the Contingency Risk Buffer at 5.5% was also approved on Friday.

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