Friday, August 19th, 2022 08:38:26

RBI approves transfer of Rs. 99,122 crore as surplus to Centre

Updated: May 22, 2021 4:40 pm

The Reserve Bank has approved the transfer of 99,122 crore rupees as surplus to the central government for the accounting period of nine months ended March 31.

RBI also decided to maintain the Contingency Risk Buffer at 5.50 per cent.

The decision was taken at the 589th meeting of the Central Board under the chairmanship of RBI Governor Shaktikanta Das, through video conference.

According to the RBI, the Board in its meeting reviewed the current economic situation, global and domestic challenges and recent policy measures taken by the Reserve Bank to mitigate the adverse impact of the second wave of Covid-19 on the economy.

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