Mumbai, May 22: The Reserve Bank of India (RBI) on Wednesday approved a ₹2.11 lakh crore dividend payout to the central government for the 2023-24 fiscal year, more than double the amount paid in the previous financial year.
The decision was made during the 608th meeting of the Central Board of Directors of the RBI, chaired by Governor Shaktikanta Das.
“The Board… approved the transfer of ₹2,10,874 crore as surplus to the Central Government for the accounting year 2023-24,” the RBI said in a statement.
This marks a significant increase from the ₹87,416 crore dividend payout for 2022-23.
“With the revival in economic growth in FY 2022-23, the Contingent Risk Buffer (CRB) was increased to 6.00 per cent. As the economy remains robust and resilient, the Board has decided to increase the CRB to 6.50 per cent for FY 2023-24,” the statement added.
