The RBI makes an annual payout to the government from the surplus income earned from investments and valuation changes on its foreign exchange holdings, including the dollar, and the fees it gets from printing currency notes.
India’s central bank will give a record dividend to the government, shoring up finances to bolster growth in Asia’s third largest economy.
The Reserve Bank of India board approved the transfer of 2.69 trillion rupees ($40.5 billion), the central bank said in a statement Friday. The figure compares with a budgeted estimate of 2.56 trillion rupees as dividend from the RBI and state-owned banks, and a previous record payout of 2.11 trillion rupees last year.
