RBI issues Rs 28,000 cr interim surplus for govt.

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The Reserve Bank of India (RBI) to issue interim surplus of Rs 28,000 crore to the BJP-led Central govt. The decision has been taken by the RBI Central Board at a meeting that took place in Delhi on Monday.

In a press release, RBI said that it was the second successive year that the RBI will be transferring an interim surplus.
The meeting was also attended by the Finance Minister Arun Jaitley who also addressed the post-Budget meeting of the Central Board.

The interim surplus will help Modi govt. to roll out populist schemes ahead of general elections. It may be noted that Payment of interim dividend was one of the contentious issues between the government and the RBI under earlier Governor Urjit Patel.

While addressing the RBI Central Board meeting, FM Arun Jaitley said that several reforms and policy measures taken by the Modi government over the last four years and its effects on the Indian economy.

 

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