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RBI approves transfer of Rs 99,122 crore as surplus to Centre-Business News , GadgetClock

RBI approves transfer of Rs 99,122 crore as surplus to Centre-Business News , GadgetClock
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RBI approves transfer of Rs 99,122 crore as surplus to Centre-Business News , GadgetClock

RBI approves transfer of Rs 99,122 crore as surplus to Centre-Business News , GadgetClock

The RBI Board additionally reviewed the present financial scenario and up to date coverage measures taken to mitigate the influence of the second COVID-19 wave

RBI approves transfer of Rs 99,122 crore as surplus to Centre

Representational picture. Reuters

Mumbai: The Reserve Financial institution on Friday permitted the transfer of Rs 99,122 crore as surplus to the central authorities for the accounting interval of 9 months ended 31 March.

The choice to transfer the surplus to the central authorities was taken on the assembly of the Central Board of Administrators of RBI. The assembly was held by means of video conferencing.

The RBI Board, in accordance to a launch, additionally reviewed the present financial scenario, international and home challenges and up to date coverage measures taken by the Reserve Financial institution to mitigate the adversarial influence of the second wave of COVID-19 on the financial system.

With the change within the Reserve Financial institution’s accounting yr to April-March (earlier July-June), the Board mentioned the working of the RBI in the course of the transition interval of 9 months (July 2020-March 2021).

Throughout the assembly, the board, headed by Governor Shaktikanta Das, “permitted the Annual Report and accounts of the Reserve Financial institution for the transition interval.

“The Board additionally permitted the transfer of Rs 99,122 crore as surplus to the central authorities for the accounting interval of 9 months ended 31 March, 2021 (July 2020-March 2021), whereas deciding to preserve the Contingency Threat Buffer at 5.50 p.c.”

Deputy governors Mahesh Kumar Jain, Michael Debabrata Patra, M Rajeshwar Rao, T Rabi Sankar attended the assembly.

Different administrators of the Central Board, N Chandrasekaran, Satish Okay Marathe, S Gurumurthy, Revathy Iyer and Sachin Chaturvedi additionally attended the assembly.

Debasish Panda Secretary, Division of Monetary Companies and Ajay Seth, Secretary, Division of Financial Affairs too attended the assembly.

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