The Reserve Bank of India (RBI) has approved the transfer of a surplus of Rs 99,122 cr to the Centre for the accounting period of nine months ended 31 March 2021 (July 2020-March 2021). This decision was taken under the Chairmanship of Governor Shaktikanta Das, at the 589th meeting of the Central Board of Directors of RBI on 21 May 2021.
“The Board also approved the transfer of Rs 99,122 crore as surplus to the Central Government for the accounting period of nine months ended March 31, 2021 (July 2020-March 2021),” RBI said.
RBI also decided to maintain the Contingency Risk Buffer at 5.50 per cent.
With the change in the Reserve Bank India’s accounting year to April-March (earlier July-June), the Board discussed the working of RBI during the transition period of nine months (July 2020-March 2021).
The central bank also approved the Annual Report and Accounts for the transition period.
Source: Zee
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