reserve bank of india: coronavirus: Even in the corona crisis, ‘this’ will bring thousands of crores to the central government’s coffers! – rbi to transfer rs 99122 crore as dividend to govt

Mumbai: Many countries in the world (coronavirus pandamic) are facing economic crisis due to corona crisis. Also, many states in India are facing covid second wave due to the second wave of corona. But the central government has been relieved by the crisis in Corona. Because soon thousands of crores will be deposited in the coffers of the central government.

The Reserve Bank of India (RBI) has come to the aid of the central government, which is facing financial difficulties in the Corona crisis. The Reserve Bank has decided to deposit more than Rs 99,000 crore in the central government’s coffers. The Board of Directors of the Reserve Bank of India (RBI) has approved an additional transfer of Rs 99,122 crore to the Government for the last nine months till March 31, 2021. The decision was taken at a meeting of the RBI’s board of directors by video conference on Friday.

The RBI Board of Directors reviewed the current economic situation, global and domestic challenges and policy measures to mitigate the effects of the second wave of Corona. The Reserve Bank of India (RBI) has changed its fiscal year from April to March (earlier July-June). The second wave of the corona has slowed economic activity due to lockdowns and other restrictions. As a result, the central government is facing financial difficulties. Now, the RBI’s decision will help the central government raise funds.

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At the meeting, a board of directors headed by RBI Governor Shaktikant Das approved the RBI’s annual report and accounts for the transition period. The Board of Directors of the RBI has approved an additional transfer of Rs 99,122 crore for the financial year ended March 31, 2021. The RBI has decided to maintain the contingency fund at 5.50 per cent.