CURRENT AFFAIRS

Detailed explanation-1: -The board of Reserve Bank of India (RBI) has approved the transfer of ₹30,307 crore as surplus to the Central Government for the accounting year 2021-22. The board has also decided to maintain the Contingency Risk Buffer at 5.50% without quantifying the amount.

Detailed explanation-2: -The Reserve Bank of India (RBI) will transfer Rs 30,307 crore as surplus to the government for fiscal ended March 2022 down 69% from the Rs 99,126 crore in the year ended March 2021 and lower than the Rs 74,000 crore budgeted by the government for the current fiscal.

Detailed explanation-3: -Data compiled from RBI’s annual reports shows the cost of printing currency notes in 2021-22 at ₹4,984.8 crore was almost 1.5 times the ₹2,063.16 crore spent in 2008-09.

Detailed explanation-4: -The Reserve Bank acts as an adviser to the Government, whenever called upon to do so, on monetary and banking related matters. The Central Government and State Governments may make rules for the receipt, custody and disbursement of money from the consolidated fund, contingency fund, and public account.