RBI approves dividend of Rs 57,000 crore to government

RBI on Friday approved a dividend payment of Rs 57,000 crore to the govt. The RBI board approved the transfer of Rs 57,128 crore as surplus to Centre for 2019-20 while deciding to maintain the contingency risk buffer at 5.5%. Earlier in the Union budget, the govt had budgeted Rs 60,000 crore as dividend from the central bank as well as state-run financial institutions.

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