RBI governor-led board approves Rs 30,307 crore dividend payment to government

The Central Board of Directors of RBI approved the payment of Rs 30,307 crore dividend to the central government.

New Delhi: The Central Board of Directors of the Reserve Bank of India on Friday, May 20, approved the payment of Rs 30,307 crore dividend to the central government for the financial year 2021-22. The Board in its meeting reviewed the current economic situation, global and domestic challenges and the impact of recent geopolitical developments. 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.

The Board approved the transfer of Rs 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 per cent, the RBI said in a statement on Friday.

The board meeting was chaired by RBI Governor Shaktikanta Das.

Deputy Governors Mahesh Kumar Jain, Michael Debabrata Patra, M. Rajeshwar Rao, ST. Rabi Sankar and other Directors of the Central Board, viz. Satish K. Marathe, S. Gurumurthy, Revathy Iyer and Sachin Chaturvedi attended the meeting. Also Read: LIC investors lose more despite markets making big gains: Why is stock falling and what to do now?

Ajay Seth, Secretary, Department of Economic Affairs and Sanjay Malhotra, Secretary, Department of Financial Services also attended the meeting, the RBI said. Also Read: 7th Pay Commission: 18-months DA arrears issue likely to be taken up in next cabinet meet, Rs 2 lakh to be given at one go?