RBI to transfer Rs 50,000 crore surplus to Union government
New Delhi, Aug 8 (IBNS): The Reserve Bank of India (RBI) on Wednesday said it has decided to pay a dividend of Rs 50,000 crore to the Union government.
The RBI said it has decided to pay the dividend to the Centre for the year ending June 30, 2018.
"The Central Board of Directors of the Reserve Bank of India, at its meeting held on August 8, 2018, approved the transfer of surplus amounting to ₹ 500 billion for the year ended June 30, 2018 to the Government of India," the RBI said in a statement.
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