RBI Surplus Funds

The record amount is a worrying sign for the economy: either there is no demand for credit or banks are scared to lend.

Ways and means advances (WMA) are temporary liquidity line given by the central bank to the government to meet short-term expenditure needs of the government

From changes in insolvency law to Wipro Q1 results, Business Standard brings you the top headlines that made news on Wednesday

The fresh call comes just months after the Reserve Bank of India (RBI) approved a 1.76 trillion rupees ($24.8 billion) dividend payment to the federal government

Over lunch with Arup Roychoudhury, Garg talks about his two years as finance secretary as the government went into an unprecedented confrontation with the Reserve Bank of India

Surplus distribution policy of RBI is determined in accordance with section 47 of the RBI Act, 1934, Sitharaman said

The central bank's gold reserves is valued at about $27 billion as of October 18, latest data showed

Does the RBI ever foresee a position where they will intervene and the rupee will ever become Rs 50 to a dollar, said Goyal

The RBI board has decided to transfer the excess reserves to government based on the Bimal Jalan committee report on the appropriate economic capital framework

The committee said it will become a precedent for using rupee depreciation to fund fiscal expenditure

The association's chief says RBI is now maintain the reserve at the lower band of 5.5% instead of at the higher band of 6.5%, leaving little room for it to meet unforeseen contingencies

As a result of this transfer, the RBI's ability to help a set of collapsing banks has come down and the govt's ability to pay its creditors has gone up

To maintain resilience, the committee suggested a relatively smaller transfer than what was anticipated.

Rahul accused Centre of stealing RBI's funds, Sitharaman, BJP hit back

What is the fuss all about in the Reserve Bank of India's (RBI's) fund transfer to the government? Business Standard explains

Rahul Gandhi accuses Centre of stealing from central bank, FM hits back

Reminds PM of the time the Latin American country's govt resorted to raiding the reserves of its central bank, and triggered a collapse of its economy

Can RBI's fund transfer allay fiscal concerns? Here's what you must know

RBI's Rs 1.76 trillion fund transfer is the biggest-ever payout by the central bank. Listen to this podcast to know how the central bank's bonanza is likely to boost Indian economy

The Finance Ministry is keen to use the transfer to cut its budgeted borrowings, though it's yet to make a final decision on how to spend the amount

The surplus transfer, commonly called as "dividend" to the government, is almost double of the previous record of Rs 65,896 crore