RBI approves Rs 2.11 lakh crore dividend payout to govt for 2023-24

Mumbai: The Reserve Bank on Wednesday approved a Rs 2.11 lakh crore dividend payout to the central government for 2023-24, more than double the amount it paid for the previous 2022-23 financial year.

The decision was taken at the 608th meeting of the Central Board of Directors of the Reserve Bank of India held under the chairmanship of Governor Shaktikanta Das.

"The Board...approved the transfer of Rs 2,10,874 crore as surplus to the Central Government for the accounting year 2023-24," RBI said in a statement.

The dividend payout was Rs 87,416 crore for 2022-23.

"With the revival in economic growth in FY 2022-23, the Contingent Risk Buffer (CRB) was increased to 6.00 per cent. As the economy remains robust and resilient, the Board has decided to increase the CRB to 6.50 per cent for FY 2023-24," the RBI said.