RBI to pay Rs 87,416-crore dividend to Central government

The Reserve Bank of India’s Central Board of Directors approved the transfer of Rs 87,416 crore to the Central government as a dividend for the fiscal year 2022-23 on Friday. According to a statement from the central bank’s spokesperson, the central bank also decided to keep the contingency risk buffer at 6%.

The Central Board met on Friday to discuss the global and domestic economic situations, as well as the associated challenges, including the impact of recent global geopolitical developments. The Reserve Bank of India’s Central Board of Directors met for the 602nd time today in Mumbai, presided over by Governor Shaktikanta Das.

According to a central bank statement, the Board also discussed the Reserve Bank’s operations from April 2022 to March 2023 and approved the central bank’s annual report and accounts for the fiscal year 2022-23.

The meeting was attended by Deputy Governors Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao, T Rabi Sankar, and other central Board directors Satish K. Marathe, Revathy Iyer, Sachin Chaturvedi, Anand Gopal Mahindra, Pankaj Ramanbhai Patel, and Ravindra H. Dholakia. Ajay Seth, Secretary of Economic Affairs, was also present at the meeting.