RBI to pay Rs 28,000 cr interim dividend to govt; Das to meet bank CEOs

The dividend transfer will help the Centre meet its revised fiscal deficit target of 3.4% of GDP for FY19

The Reserve Bank of India (RBI) decided to transfer an interim dividend of Rs 28,000 crore to the government in the current financial year (2018-19 or FY19) at its board meeting on Monday.

“Based on a limited audit review and after applying the extant economic capital framework, the board decided to transfer an interim surplus of Rs 28,000 crore to the central government for the half-year ended December 31, 2018,” the RBI said. The RBI board also “reviewed the current economic situation, global and domestic challenges, and other specific areas of operations”.

The dividend transfer will help the Centre meet