The Reserve Bank on May 19 approved ₹87,416 crore dividend payout to the central government for 2022-23, nearly triple of what it paid in the previous year.
The dividend payout was ₹30,307 crore for accounting year 2021-22.
The decision was taken at the 602nd meeting of the Central Board of Directors of Reserve Bank of India held under the chairmanship of Governor Shaktikanta Das.
“The board approved the transfer of ₹87,416 crore as surplus to the central government for accounting year 2022-23, while deciding to keep the Contingency Risk Buffer at 6%,” RBI said in a statement.
The board also reviewed the global and domestic economic situation and associated challenges, including the impact of current global geopolitical developments.
The board also discussed the working of RBI during 2022-23 and approved the annual report and accounts of the central bank for the year.