RBI approves transfer of Rs. 99,122 crore as surplus to centre
The RBI has decided to transfer the remaining Rs 99,122 crore to the government. The excess amount for the nine months ending March 31, 2021 will be transferred to the Government.
The decision was taken at a meeting of the Reserve Bank’s central board of directors on Friday. This is a move from July 2020 to March 2021. The meeting also decided to shift the RBI’s accounting year to April-March. Earlier, July-June was considered as the accounting year.
The meeting reviewed the economic situation following covid’s second wave and the global and domestic challenges it posed.
Apart from RBI Governor Shaktikant Das, the video conference meeting was also attended by Deputy Governors, Central Board of Directors and Secretary, Financial Services Department.
