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
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.
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