May 22 (Punjab Khabarnama) : The Reserve Bank of India has approved dividend payment of Rs 2.11 lakh crore for the financial year 2023-24. In the financial year 2022-23 it was Rs 87,416 crore. RBI has given this information in an official statement. Today was the 608th meeting of the Central Board of Directors of the Reserve Bank of India which was held in the financial capital Mumbai. Reserve Bank of India Governor Shaktikanta Das presided over the meeting.
The dividend given by RBI to the Government of India is the highest dividend in its history. Earlier, RBI had given the highest dividend till date for the financial year 2018-19. In this, the Central Government received a total dividend of Rs 1,76,051 crore. This was the situation in the financial year just before the Covid crisis.
RBI board also took care of possible risks
The RBI Board has included the risks to the economic outlook along with global and domestic conditions. The Reserve Bank Board also discussed the functioning of the Reserve Bank during April 2023 to March 2024. With this, the annual report and financial statements of the Reserve Bank for the financial year 2023-24 have been approved.
The transferable surplus of RBI for the financial year 2023-24 has been arrived at on the basis of the Economic Capital Framework (ECF) adopted by the Reserve Bank as per the recommendations of the Expert Committee to review the existing economic capital structure. This committee, formed on August 26, 2019, had recommended that the risk provision under the contingent risk buffer (CRB) should be maintained in the range of 6.5 to 5.5 per cent of the RBI’s balance sheet.
Deputy Governor Dr Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Shankar, Swaminathan J and other Central Board directors Satish K Marathe, Revathi Iyer, Anand Gopal Mahindra, Venu Srinivasan, Pankaj Ramanbhai Patel and Dr Ravindra H Dholakia attended the meeting. took. Secretary of the Department of Economic Affairs Ajay Seth and Secretary of the Department of Financial Services Dr. Vivek Joshi also attended the meeting.