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RBI Likely to Transfer up to ₹400 bn of Interim Dividend to Govt
January 09, 2019
The Reserve Bank of India (RBI) is expected to transfer an interim dividend of 4.32 billion to 5.8 billion USD (₹300-400 billion) to the government, sources said. The news comes in at an interesting time as just last month, the tussle between the central bank and the government led to the stepping down of Governor Urjit Patel from office. He was soon replaced by Shaktikanta Das who was previously the Revenue Secretary of India and the Economic Affairs Secretary of India.
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