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RBI approves dividend of Rs 57,000 crore to Centre

The Reserve Bank of India (RBI) on Friday approved a dividend payment of Rs 57,000 crore to the government. The RBI board approved the transfer of Rs 57,128 crore as surplus to the central government for the accounting year 2019-20, while deciding to maintain the contingency risk buffer at 5.5%, the central bank said in a release."The Board approved the transfer of Rs 57,128 crore as surplus to the Central Government for the accounting year 2019-20, while deciding to maintain the Contingency Risk Buffer at 5.5 per cent," the RBI said in a statement.

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