BANKING AFFAIRS

Detailed explanation-1: -The Reserve Bank of India’s (RBI) Board approved a sharply lower surplus transfer of ₹30, 307 crore to the government for the accounting year 2021-22, the lowest in 10 years. This is in sharp contrast to the surplus transfer of ₹99, 122 crore for nine months ended March 31, 2021 (July 2020-March 2021).

Detailed explanation-2: -The act mandates that profits made by the central bank from its operations be sent to the Centre. As the manager of its finances, every year the RBI also pays a dividend to the government to help with the finances from its surplus or profit.

Detailed explanation-3: -The Reserve Bank of India’s (RBI) Central Board of Directors have approved the transfer of Rs 30, 307 crore as surplus to the Centre for FY22. The board also decided to maintain the Contingency Risk Buffer at 5.50 percent.

Detailed explanation-4: -RBI To Pay ₹ 30, 307 Crore Dividend To Government For 2021-22 Last year in May, RBI declared a dividend of ₹ 99, 122 crore for the nine-month period. Mumbai: Reserve Bank of India (RBI) on Friday said its board has approved a dividend payment of ₹ 30, 307 crore to the government for the financial ended March 2022.