 "RBI to transfer Rs 65,896 crore surplus to government")
The Reserve Bank of India (RBI) will transfer a surplus of Rs 65,896 crore for 2014-15 to the Government of India. It is about 25 per cent more than the amount transferred in 2013-14. The Central Board of Directors appro-ved the transfer for the year ended June 30, 2015, RBI said in statement.
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The central bank follows July-June accounting year. RBI had transferred a surplus of Rs 52,679 crore for year ended June 30, 2014.
Governor Raghuram Rajan chaired the meeting. Besides, the four deputy governors and other directors, two government nominee directors — Hasmukh Adhia, secretary, department of financial services and Ajay Tyagi, additional secretary (investment), department of economic affairs — attended the meeting.
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The central bank follows July-June accounting year. RBI had transferred a surplus of Rs 52,679 crore for year ended June 30, 2014.
Governor Raghuram Rajan chaired the meeting. Besides, the four deputy governors and other directors, two government nominee directors — Hasmukh Adhia, secretary, department of financial services and Ajay Tyagi, additional secretary (investment), department of economic affairs — attended the meeting.
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Chief Economic Advisor Arvind Subramanian also attended the meeting. The other directors who attended the meeting were Anil Kakodkar, Kiran Karnik, Nachiket Mor, Y H Malegam, Dipankar Gupta, G M Rao, Ela Bhatt, Indira Rajaraman and Damodar Acharya.