RBI Announces Record Dividend of Rs 2.11L cr to Government

The Reserve Bank of India has declared a record dividend of 2.11 lakh crore rupees to the Government of India for FY24. This news marks the central bank’s highest dividend in history.

 

Key Takeaways from RBI Announcement:

  • The RBI declared a record dividend of 2.11 lakh crore rupees to the Government of India for FY24.
  • Highest dividend ever paid by the central bank.
  • The dividend is 140% greater than the amount distributed in fiscal year 23.

 

From fiscal year 2018-19 to 2021-22, the Board decided to keep the Contingency Risk Buffer (CRB) at 5.5% to promote economic growth and general economic activity during tumultuous times. With the revived economic growth in FY 2022-23, the RBI increased the CRB to 6%.

 

The Board upped the CRB to 6.5% for FY24, citing the economy’s sustained resilience and durability.

 

Following that, the RBI Board approved the transfer of 2,10,874 crore rupees in surplus to the Central Government for the current fiscal year. The dividend is 140% greater than the amount distributed in FY 23.

 

About the Reserve Bank of India:

The Reserve Bank of India (RBI) is the Central Bank of India that began operation in 1935 to use monetary policy and create financial stability in India. It is also charged with regulating the country’s currency and credit systems. 

 

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