Restriction shall be reviewed on the basis of the financial position of banks for the quarter ending September 2020
The Reserve Bank of India (RBI) has decided that in view of the COVID-19-related economic shock, scheduled commercial banks and cooperative banks shall not make any further dividend payouts from profits pertaining to the financial year ended March 31, 2020 until further instructions.As per the RBI it is imperative that banks conserve capital to retain their capacity to support the economy and absorb losses in an environment of heightened uncertainty.
This restriction shall be reviewed on the basis of the financial position of banks for the quarter ending September 30, 2020.
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