- The RBI central board also approved the transfer of rs 99,122 crores as surplus to the Central Government for the accounting period of nine months ended March 31, 2021
New Delhi: RBI has chosen to move an excess of Rs 99,122 crore to the focal government. the choice was taken at the 589th gathering of the Central Board of Directors of RBI on May 21, 2021.
The Board in its gathering reviewed the present economic circumstance, worldwide and homegrown difficulties, and modern approach measures taken by the Reserve Bank to moderate the unfriendly effect of the second flood of COVID-19 on the economy.
“With the change within the Reserve Bank’s bookkeeping year to April-March (prior July-June), the Board examined the working of the Reserve Bank |depository monetary institution|bank|banking concern|banking company”> Reserve Bank of India during the progress time of nine months (July 2020-March 2021) and supported the Annual Report and Accounts of the Reserve Bank for the progress time frame. The Board likewise endorsed the exchange of Rs 99,122 crore as surplus to the Central Government for the bookkeeping time of nine months finished March 31, 2021 (July 2020-March 2021),” RBI said.
A year ago, RBI moved just 44% of its excess to the focal government, at Rs 57,128 crore. This was likewise a stone bottom surplus transfer within the past seven years before a year ago.
In 2019, RBI moved Rs 1,23,414 crore surplus to the focal government.
Appointee Governors Shri Mahesh Kumar Jain, Dr. Michael Debabrata Patra, Shri M. Rajeshwar Rao, Shri T. Rabi Sankar, and different overseers of the Central Board viz. Shri N. Chandrasekaran, Shri Satish K. Marathe, Shri S. Gurumurthy, Ms. Revathy Iyer, and Prof. Sachin Chaturvedi went to the gathering. Shri Debasish Panda Secretary, Department of monetary Services, and Shri Ajay Seth, Secretary of, Department of Economic Affairs likewise went to the gathering.