Economy

RBI board approves to transfer ₹30,307 crore as surplus to Centre

A man walks behind the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai. File

A man walks behind the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai. File | Photo Credit: Reuters

The board of Reserve Bank of India (RBI) at its meeting held in Mumbai on Friday approved the transfer of ₹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% without quantifying the amount.

The 596th meeting of the central board of the RBi was held under the Chairmanship of Governor Shaktikanta Das.

“The Board in its meeting reviewed the current economic situation, global and domestic challenges and the impact of recent geopolitical developments,” the RBI said in a statement.

“The Board also discussed the working of the Reserve Bank during the year April 2021 — March 2022 and approved the Annual Report and accounts of the Reserve Bank for the accounting year 2021-22,” it added.

Deputy Governors Mahesh Kumar Jain, Dr. Michael Debabrata Patra, M. Rajeshwar Rao, T. Rabi Sankar and other Directors of the Central Board such as Satish K. Marathe, S. Gurumurthy, Revathy Iyer and Prof. Sachin Chaturvedi attended the meeting.

Ajay Seth, Secretary, Department of Economic Affairs and Sanjay Malhotra, Secretary, Department of Financial Services also attended the meeting.


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Printable version | May 20, 2022 10:34:47 pm | https://www.thehindu.com/business/Economy/rbi-board-approves-to-transfer-30307-crore-as-surplus-to-central-govt/article65439200.ece