RBI board expected to consider dividend payout to government on Friday

The government has budgeted to receive a total Rs 48,000 cr ($5.8 bn) from the RBI and other financial institutions it holds stakes in

Reserve Bank of India, RBI

Photo: Bloomberg

Listen to This Article

By Anup Roy

The Reserve Bank of India’s board will meet on Friday, when it is expected to consider a dividend payout to the government, according to people with knowledge of the matter.

The meeting will be held in Mumbai, the people said, asking not to be identified as the details are private. The authority typically reviews its finances and how much it can transfer to the government during its May board meeting. 

An email to the RBI wasn’t immediately answered. 
The government has budgeted to receive a total 480 billion rupees ($5.8 billion) from the RBI and other financial institutions it holds stakes in. 

Analysts including those at Standard Chartered Plc estimate the RBI will transfer between 1 trillion rupees to 2 trillion rupees to the government as a dividend for the year ended March 31. The RBI’s dividend for the previous year was 303.1 billion rupees.

Also Read

Suzuki Motorcycle ties up with Standard Chartered to give funds to dealers

India set to post BoP deficit for 2nd straight yr: Standard Chartered Bank

First Abu Dhabi Bank PJSC explored offer for Standard Chartered

$100 mn repaid to Standard Chartered Bank, encumbrance released: Vedanta

Vedanta dividend: Decision on fifth payout today; check all details here

UPI-related scams account for 55% of total digital payments frauds in India

HDFC to raise up to Rs 8,000 cr through bonds, will offer 7.7% per annum

Karur Vysya Bank Q4 net profit up 59% at Rs 338 cr, deposits up 12%

NPCI's RuPay goes live on CVV-less payments for tokenized cardholders

No holding back: FPIs sweeten the pot for Equitas SFB and Sona BLW

First Published: May 16 2023 | 11:59 AM IST

Explore News