Nagpur – The Reserve Bank of India has approved a payment to the central government of Rs 30,307 crore for the fiscal year 2021-22. The RBI has made a firm decision to keep the contingency risk buffer at 5.50 percent.
The Reserve Bank of India’s central board of directors made all decisions at its 596th meeting. The meeting was held on Friday in Mumbai under the chairmanship of the central bank’s governor, Shaktikanta Das.
The board discussed the Reserve Bank’s operations from April 2021 to March 2022 and approved the Reserve Bank’s annual report and accounts for the fiscal year 2021-22.
“The Board approved the transfer of Rs 30,307 crore as surplus to the Central Government for the accounting year 2021-22, while deciding to maintain the Contingency Risk Buffer at 5.50%,” as per the RBI official statement.
The dividend for FY22, which will be transferred in FY23, is, however, much lower than what the government projected in Budget 2022. In 2022-23, the government anticipated a dividend of Rs 73,948 crore from the Reserve Bank of India (RBI) and public sector banks and financial institutions.
In the previous year, the RBI declared a dividend of Rs 99,122 for the nine-month period (July 2020 to March 2021). The dividend was paid for that period because the RBI’s fiscal year coincided with the fiscal year of the government.
