RBI (RBI) approved the transfer of Rs 99,122 crore as surplus to the central government.
Mumbai. The Reserve Bank of India (RBI) board approved a transfer of Rs 99,122 crore as surplus to the central government for the nine-month accounting period ended 31 March 2021. The decision to transfer surplus to the central government was taken in a meeting of the RBI Central Board (RBI Central Board) on Friday through video conference.
According to a statement, the RBI board also reviewed the current economic situation, global and domestic challenges and recent policy measures to mitigate the outbreak of the second wave of Kovid-19 on the economy. Board discusses the functioning of RBI
The board discussed the functioning of the RBI during a period of nine months (July 2020-March 2021), with the Reserve Bank changing the accounting year to April-March (earlier July-June). During the meeting, the board chaired by Governor Shaktikanta Das approved the annual report and accounts of the Reserve Bank for the transition period. According
to the approval statement to transfer Rs 99,122 crore as surplus to the central government , “The board has given 99,122 crore as surplus to the central government for the accounting period of nine months (July 2020-March 2021) ending March 31, 2021. Approved the transfer of rupees, while decided to maintain the contingency risk buffer at 5.50 per cent.
Deputy Governors Mahesh Kumar Jain, Michael Devvrat Patra, M Rajeshwar Rao and T Ravi Shankar attended the meeting. Other directors of the Central Board N Chandrasekaran, Satish K Marathe, S Gurumurthy, Revathi Iyer and Sachin Chaturvedi also attended the meeting. Debashish Panda, Secretary, Department of Financial Services and Ajay Seth, Secretary, Department of Economic Affairs also attended the meeting.
