RBI to Transfer Rs 99,122 Crore Surplus to Center for 9 Months Ended in March

reserve-bank-of-india-reuters image for news

reserve-bank-of-india-reuters image for news

The central board group of Reserve Bank of India supported exchange of ₹ 99,122 crore as surplus to the Central Government for the bookkeeping period of nine months finished March 31, 2021. 

“The central board at its meeting reviewed the current economic situation, global and domestic challenges and recent policy measures taken by the Reserve Bank to mitigate the adverse impact of the second wave of COVID-19 on the economy.

With the change in the Reserve Bank's accounting year to April-March (earlier July-June), the Board discussed the working of the Reserve Bank of India during the transition period of nine months (July 2020-March 2021),” RBI said in a press release.

A year ago, RBI's board endorsed the exchange of ₹ 57,128 crore as surplus to the focal government for bookkeeping year 2019-20 (July-June) 

A week ago, the Reserve Bank of India (RBI) said that the greatest cost of Covid-19 pandemic second wave has been as far as an interest stun - principally as far as versatility, optional spending and business.

Source : NDTV profit

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