RBI Board approves switch of Rs 57,128 crore as surplus to govt


Mumbai, August 14

The RBI Board on Friday authorized the switch of Rs 57,128 crore as surplus to the Central authorities for the accounting yr 2019-20, the central financial institution stated in a press release.

The choice was taken on the 584th assembly of the Central Board of the Reserve Bank of India chaired by Governor Shaktikanta Das.

The Board reviewed the present financial state of affairs, continued international in addition to home challenges, and financial, regulatory and different measures taken by the RBI to mitigate the financial impression of COVID-19 pandemic.

“The Board also approved the transfer of Rs 57,128 crore as surplus to the Central Government for the accounting year 2019-20, while deciding to maintain the Contingency Risk Buffer at 5.5 per cent,” the RBI stated in a press release.

Further, the Central Board mentioned the proposal of organising an Innovation Hub.

It additionally mentioned varied areas of operations of the financial institution over the last yr, and authorized the annual report and accounts of the Reserve Bank for 2019-20. PTI



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