The Reserve Bank would transfer to the central government its surplus profit of Rs 65,876 crore which is marginally lower than the amount given last year.The approval to transfer the surplus was taken at the 559th meeting of the Central Board of the RBI, chaired by Governor Raghuram Rajan, today.The Board reviewed the current economic situation, global and domestic challenges and policy responses and other specific areas in the working of the Reserve Bank. It also discussed the draft Annual Report of the Reserve Bank for the year 2015-16.The surplus is generated through RBI's investment activities, primarily in other sovereign bonds like that of the US T-bills, which is its single largest investment source.Last year, the surplus payout was 25 per cent more than the previous financial year, prior to which it has been much lower. Since the past three years, the government has been making its budget calculations about the RBI surplus payouts public as non-tax revenue. This year's payout is almost the same as the budget estimate.
News On AIR | August 11, 2016 7:09 PM
RBI transfers Rs 65,876 crore surplus to govt