RBI pays Rs 30,307 crore dividend to the government for FY22

MUMBAI: The Reserve Bank of India (RBI) announced on Friday that its board has approved a dividend payment of Rs 30,307 crore to the government for the fiscal year ending March 2022. The board approved the transfer of Rs 30,307 crore as a surplus to the central government for the 2021-22 financial year and decided to keep the emergency risk buffer at 5.50 per cent, RBI said in a statement.
The decision to pay the dividend was made on Friday at the 596th meeting of RBI’s Central Board of Directors, chaired by Governor Shakktanta Das.
Last year in May, RBI declared a dividend of Rs 99,122 crore for the nine month period (July 2020 to March 2021). The dividend was paid for this period as RBI adjusted its fiscal year to match the government’s fiscal year.
Previously, the RBI followed the July-June period earlier than the government’s April-March fiscal year.
During its meeting, the Board reviewed the current economic situation, global and national challenges, and the impact of recent geopolitical developments.
The board also discussed RBI’s work in April 2021 to March 2022 and approved the annual report and accounts for the 2021-22 financial year, the statement said.

Sybil Alvarez

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