Mumbai: The Reserve Bank of India (RBI) board approved the transfer of Rs 99,122 crore as surplus (surplus) to the government for the nine-month accounting period ended 31 March 2021. < / p>
The decision to transfer the surplus to the central government was taken in a meeting of the central board of RBI on Friday through video conference.
The RBI board also reviewed the current economic situation, global and domestic challenges and recent policy measures to mitigate the outbreak of Kovid-19’s second wave on the economy, according to a release.
The board discussed the functioning of the RBI over a period of nine months (July 2020-March 2021), with the Reserve Bank changing the accounting year to April-March (earlier July-June).
During the meeting, the board chaired by Governor Shaktikanta Das approved the annual report and accounts of the Reserve Bank for the transition period.
According to the statement, the & lsquo; & lsquo; board approved the transfer of Rs 99,122 crore as surplus to the central government for the nine-month (July 2020-March 2021) accounting period ended 31 March 2021, while contingent risk buffer. Decided to keep it at 5.50 percent. & Rsquo; & rsquo;
Deputy Governors Mahesh Kumar Jain, Michael Devvrat Patra, M Rajeshwar Rao and T Ravi Shankar attended the meeting. & nbsp; N Chandrasekaran, other directors of the Central Board, Satish K Marathe, S Gurumurthy, Revathi Iyer and Sachin Chaturvedi also attended the meeting. Debashish Panda, Secretary, Department of Financial Services and Ajay Seth, Secretary, Department of Economic Affairs also attended the meeting.