IN a major boost to the central government finances, the Reserve Bank of India (RBI) has decided to pay ₹87,416 crore in dividend for the financial year 2022-23 to the government.
The amount to be transferred is almost three times of the ₹30,307 crore dividend it paid to the government in the previous financial year. A decision in this regard was taken in RBI's Board meeting held on Friday.
"The Board approved the transfer of ₹87,416 crore as surplus to the central government for the accounting year 2022-23, while deciding to keep the contingency risk buffer at 6%," the central bank said in a statement.
This story is from the May 20, 2023 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the May 20, 2023 edition of The Morning Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
In South Delhi, BJP workers sideline INDIA bloc, dominate ground presence
IN South Delhi constituency, the dominance of BJP party workers on the ground was evident on polling day.
Set for grand finish as Knights meet Sunrisers
ALL roads will lead to Chepauk on Sunday evening as Kolkata Knight Riders (KKR) will battle it out against Sunrisers Hyderabad (SRH) in the final of the Indian Premier League.
Manchester United clinch FA Cup to give Ten Hag hope of avoiding sack
ERIK ten Hag made a convincing case to be spared the sack as Manchester United upset Manchester City to take the FA Cup with a shock 2-1 victory in Saturday’s final.
Shreyas seeks IPL balm after recent setbacks
ON the face of it, Shreyas Iyer does not come across as someone who has filters.
Nishant Pitti withdraws bid for bankrupt Go First
EASEMYTRIP'S chief executive officer Nishant Pitti on Saturday said he is withdrawing the bid for the bankrupt airline Go First.
HITS AND MISSES OF AVIATION SECTOR IN 10 YRS
IndiGo and Air India are two major players; other airlines together hold 11% mkt share
Israel strikes Rafah day after top UN court orders it to halt offensive
Israeli official says govt intends to renew talks for Gaza hostage release deal next week
Over 200 could have been inside bombed Kharkiv store: Zelenskyy
RUSSIA defaulted on its international bonds for the first time in more than a century, the United States said on Monday, as two of its debt payments were prevented from reaching creditors, due to sanctions over the Ukraine offensive.
UP's 54% voting lower than previous 5 phases
THE sixth phase of Lok Sabha elections recorded a moderate 54.02 per cent voter turnout across 14 seats of Purvanchal in Uttar Pradesh till 6 pm on Saturday, poll officials said.
Amid violence, Bengal records high 78% voting
ONE person was killed in sporadic incidents of violence reported from various parts of West Bengal’s Kanthi, Tamluk and Bishnupur constituencies in Phase-VI of the Lok Sabha polls on Saturday.
