The Reserve Bank of India (RBI) on Friday decided to transfer a surplus of Rs 99,122 crore to the Central government. The decision was taken at 589th meeting of the RBI's central board of directors.
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RBI to transfer Rs 99,122 crore surplus to government.
The Reserve Bank of India (RBI) on Friday decided to transfer a surplus of Rs 99,122 crore to the Central government. The decision was taken at 589th meeting of the RBI's central board of directors.
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RBI to transfer Rs 99,122 crore surplus to government
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The Reserve Bank of India (RBI) on Monday accepted Bimal Jalan committee recommendations and approved surplus transfer to the government.RBI board decided to transfer a sum of Rs 1,76,051 crore to the Government of India comprising of Rs 1,23,414 crore of surplus for the year 2018-19 and Rs 52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF) adopted at its board meeting.
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Watch RBI accepts Jalan panel report, approves Rs 1.76 lakh crore surplus transfer to govt With HD Quality
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Accepting the recommendations of the Bimal Jalan committee, the Reserve Bank (RBI) board has approved the transfer of record Rs 1.76 lakh crore dividend and surplus reserves to the government, boosting Modi regime's prospect to stimulate the slowing economy without widening fiscal deficit. ET's Saubhik Chakrabarti shares his views on the decision and its impact on the economy. (Text: PTI)
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Watch Analysis: RBI okays Rs 1.76 lakh crore surplus transfer to govt | Economic Times With HD Quality
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A day after the Reserve Bank of India's Central Board accepted the Bimal Jalan panel recommendations and decided to transfer Rs 1.76 lakh crore in dividend and surplus reserves to the government, Congress on Tuesday slammed the move. Congress media chief Randeep Singh Surjewala called the move a 'fiscal harakiri', and asked whether it was sheer coincidence that the Rs 1.76 lakh crore borrowed by the RBI matches with the 'missing amount in the Budget calculation'.
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Watch Surplus fund transfer: Govt rescuing self with RBI reserve, Randeep Surjewala tweets With HD Quality
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Congress leader Rahul Gandhi on Tuesday hit out at the government over the record cash transfer by the RBI, saying the prime minister and the finance minister are 'clueless' about solving the 'self created economic disaster' and accused them of 'stealing money' from the Bank.
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Watch Surplus fund transfer: Stealing from RBI won't work, Rahul Gandhi tweets With HD Quality
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RBI has decided to transfer a surplus of 1.76 lk cr - almost double the estimated figure for FY20. ET NOW spoke to former RBI Guv Rakesh Mohan on the mechanics behind the decision. He is confident that RBI's balancesheet is in good shape, even after the capital transfer. Listen in!
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Watch RBI balance sheet in good shape even after capital transfer: Rakesh Mohan, former RBI deputy Guv With HD Quality
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AICC Press Briefing By Anand Sharma on the RBI's decision to transfer surplus to the Govt.
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